Weird thinking that not spinning out every single thing into separate company/selling it out just to make the investor sheet look nice is considered "strange"

Weird thinking that not spinning out every single thing into separate company/selling it out just to make the investor sheet look nice is considered "strange" Vertical integration is almost looked like a mistake in the western investor driven companies; and inventions are to be bought, not actually made, why risk research money into anything not deemed "core business" by the market ?