Nothing to do with it. We're not mature enough to recognize the importance of a flat hierarchy and adopting a startup-like model with our internal teams (business and technical independence, succeed and you'll be rich, fail and you're fired)

As a result, the larger the company, the larger the hierarchy, the larger the inefficencies. At the extreme you approximate the government of a country.

Layers of managers who care only about collecting a paycheck, engaging in company politics and looking busy cause exactly this problem. Managers will pick the best decision for them, not anyone else.