Working at companies like this, you come to realize that they are so insulated in their special (monopolistic or almost) positions that they become blind to any

Working at companies like this, you come to realize that they are so insulated in their special (monopolistic or almost) positions that they become blind to anything other than quarterly earnings per share. On the rare case that something does blow up badly enough that executives must leave, they are still almost permanently cemented at their tier. So they just migrate to another poorly run large company to focus on their own short term gain. Applying logic to this scenario doesn't work. It's really about balancing cost-benefits. Since the costs to being an idiot are very low once you reach a certain level, the downsides can be completely forgotten in pursuit of the upsides.