The idea that the only possible solution is to start over is unrealistic, unhelpful and also wrong, and is so despite your attempt to caricature anyone thinking otherwise. With proper policies, technical measures can be taken to greatly improve security over the clusterfuck that is Equifax (and probably the other agencies as well.) With proper regulation, the company (and so, indirectly, its shareholders) and its officers could be held responsible, whether or not they choose to outsource the implementation. For a start, every regulation that Equifax was lobbying to be weakened could be strengthened.

In the 18th and 19th century, Britain transported many petty criminals to penal colonies in Australia. Putting aside the brutality of that policy, there was at least some concern over the number of deaths on the voyage. After other attempts failed, one simple policy brought about considerable improvement: shipowners were paid by the number of live transportees arriving. They complained mightily that it would not work, but it did.

Frankly, your post looks like a self-serving defense of business-as-usual mediocrity in IT.