Been there, done that, but I wouldn't put the blame on engineers. You said there it yourself:
> Too few engineers working with overly vague requirements with not enough time always results in the same thing. We are all churning out products we should be embarrassed about. [...] They have like 100,000 engineers. Can they not spare a dozen of them to keep that product from being abject shit?
You know the big O thing. If your algorithm is inefficient, it will ultimately slow down to a crawl at one point, no matter how many cores you throw at it. Now replace 'algorithm' and 'cores' with 'corporate processes' and 'employees' and you get a picture of what is exactly happening at large bureaucracies. Even worse so now that they can no longer afford to infinitely expand and have to cut costs (through LLMs and offshoring) while maintaining an illusion of growth for stakeholders.
The funny thing is that, despite all of this, the core problem (IMO) of managers playing political games and reaching for short-sighted quick fixes like "new agile methodologies" [0] instead of doing their jobs well remains unaddressed. Meta has been recently letting go of middle managers in a (frantic?) attempt to tame the explosion of bureaucracy and the associated loss of efficiency, but the rest of the industry just appears to be repeating "AI" like a mantra. Even though coding itself has already been the most "over-optimized" part of the whole software development process and optimizing (the costs of) it further only results in further "Outlookization" of software.
[0] https://newsletter.pragmaticengineer.com/p/project-managemen...