Security Theater.

Byline from the article:

The legendary comedian died from cancer at age 70 in July 2023

Laughs in Factorio

bloated IT budgets

Can you point me to one of these companies?

In general IT is run as a “cost center” which means they have to scratch and save everywhere they can. Every IT department I have seen is under staffed and spread too thin. Also, since it is viewed as a cost, getting all teams to sit down and make DR plans (since these involve the entire company, not just IT) is near impossible since “we may spend a lot of time and money on a plan we never need”.