Very much this. People have incredibly low expectations of software, so of course the software industry feels no need to push for higher quality.

Generally business considerations >> user happiness.

Software is primarily shipped to make money. If a shitshow product - it's not hard to name a few - makes money, there is no business feedback loop which will raise quality.

Senior devs tend to justify this on the basis of experience, and management justifies it on the basis of shareholder value.

In reality it's just cheap, shoddy, dispiriting, and cynical. In a mature industry developers would be able to take pride in making end users happy [1], as opposed to making them frustrated and enraged.

[1] Not the same goal as impressing developer peers.

They hate it, but they pay for it.

Perhaps you could make something they love instead, but if the production then costs 10x more, and they are only willing to pay 2x more, it does not make sense economically.