Managers who know what they are doing are typically a lot more expensive than software engineers who know what they are doing. So the only reasonable way to outsource software engineering is to also outsource the corresponding management, and management don't want to do that.

Agreed. There’s no way you can get away with not having a global team unless you’re a small company operating in a small market.

The company I work for now has a team in India and the difference in skills is night and day compared to my last job. The turnover is much much less as well. I suspect they pay better and don’t rely on scummy 3rd party “coach you to pass the interview but have no real experience” providers.