I would assume incompetence before malice and living in some kind of idealized bubble compared to field testing and dog fooding their own product in a very large variety of circumstances.

One car executive that I've known said this: "The very best test drivers are our end users, in the first week after release we learn more about a car than we do in the months of field testing prior.". I am not going to name the individual but it makes good sense and I have seen the same with all software products released to the general public.

I work in the field and never had this impression. There are a ton of standards, safety related procedures and so on. But many of those are at least questionable. At the same time management is asking for more and more „features“. Many are just gimmicks or diluted by too many cooks. No one ever asks for GOOD software. Folks at the top have ABSOLUTLY NO idea what that could mean other than the absence of bugs.