You're onto something with "innovation theater". Companies that overhired need to occupy all their new hands. Well-defined initiatives are already staffed so th

You're onto something with "innovation theater". Companies that overhired need to occupy all their new hands. Well-defined initiatives are already staffed so the extra's are thrown into big, ambiguous initiatives that executives don't pay attention to but have hope for. No attention means no career growth, so the overhired PM's/engineers/whoever put together a performance to steal the spotlight.