IMO a lot of places have forgotten the value of manual testing in terms of not only finding bugs but actually understanding how the product is used. Games companies prize iteration speed in terms of how quickly you can test a change in situ because we as game makers need to verify our changes by playing the game. I'm making a multiplayer game right now so I need to make sure what I do works on the server and clients which usually necessitates three copies of the game running together. Then we playtest it with a larger group weekly and playtest with even larger groups less regularly.
My impression of a lot of modern development elsewhere is that as soon as automated tests are green the code gets punted into production which seems utterly bonkers.
I see good value in modern unit tests when you are building some sort of automation engine, rules engine, etc. But I think a lot of people see them as a hammer and everything is a nail.