Conglomerates may not be as nimble and agile as single-focus companies, but they are uniquely more resilient to economic shock events, and branches being "unprofitable" for a time can be supported by others.

Unfortunately, MBA beancounter/neoliberal extremism aka "throw out everything not the core business" has become the norm... and so, with Covid, Ukraine and Trump's tariff and Iran wars, we got a ton of "single focus" companies that are struggling hard, and with everything deemed "not the core business" including internal IT, cleaning etc. sourced out, many a corporation has become internally enshittified.