To the untrained eye, it definitely is a huge cost center. Devs and smart people get premium dollar for their work, as they should, but for the bean counters, execs and bad managers, it's extremely difficult to simply quantify the work in such a way to see it as a value add. Especially in an executive excel sheet/powerpoint

>> it's extremely difficult to simply quantify the work in such a way to see it as a value add.

Which is often the case even in product development. They know the existing product is only going to be useful for the next few years. They know they need something new to build on the line. But somehow the development of that new thing is seen as pure cost rather than an investment in the future.

Nevermind how work and production is the bare minimum price of being a business