That's all it is, tbh, without resorting to hyperbole. This happens even in capitalist economies -- companies have little incentive for maintenance at the best of times.

IMHO, when 40% of energy for the whole country is provided by one single plant (regardless of plant type), things will go wrong at some point. To overcome a situation like that you need money and vision to build a redundant system. Clearly the Venezuelan government lacked them.