It reminds me of a bigger company version of Masters of Doom. Same hacker ethos driving those early days.
This is an accurate take, but in reality I think they convinced the government to outsource a lean/agile development process.
20+ years ago, NASA went through their "better, faster, cheaper" phase to try their own hand at a more agile environment. Unfortunately, it reduced quality and whenever something bad happened more requirements were levied. Now some are beneficial but there's also some that were bureaucratic and process bloat just because of political risk and the fact nobody wanted to be on record saying the risk was acceptable.
I think one unspoken risk is whether the government, as the largest SpaceX customer, will try to enforce the same quality and safety standards as the company matures, particularly with human-rated spaceflight. Or if they are comfortable with a hands-off approach.
At a high level everyone was aware that the way the government micromanaging the design/build of rockets with cost plus contracts wasn't sustainable, but the government bureaucracy that awards contracts is heavily entrenched in that mode of operation.