In my experience it’s definitely about company size / stakeholder count rather than user base. You don’t need a bunch of people to sign off if there aren’t a bunch of people.
It's entirely about company size and profit. Small companies can't afford to have their limited staff wasting time on bullshit. Big companies tolerate or even encourage it, for various reasons.
I think this is a function of user base size, not so much profit or company size.