All in all, once an organization gets big enough, power does what power wants, and power wants what is good for them in the short term, regardless of what is good for the organization. That's how most large companies end up spending very large amounts of money on things that wouldn't actually pass muster to anyone aiming for the organization's best interest and with actual knowledge of what is being accomplished.
You see new, wide eyed PMs approaching budgeting processes as if the goal really was profitability, or customer satisfaction, or something reasonable. But if they are going to stay as PMs for long, they better realize quick that the vast majority of project proposals have only a passing interest in what will be accomplished, and are mainly about making sure every sub-organization gets fed sufficient money to not lose people, or possibly even grow if the manager is well liked. All the efforts in documentation and justification are just theater.
There is an interesting hypothesis for this in the book "The Evolution of Civilizations" by Carroll Quigley[1]. Basically his idea in the book is that as organizations (or civilizations) get beyond a certain critical mass, people start to lose connection with the collective goals that originally united them and start to coalesce around internal goals related to their smaller unit. So this in a company is when you go from everyone devoting all their efforts to the shared mission and instead working on team goals or (worse) internal politics that may or may not be aligned with the bigger goal.
It's a very interesting book. He's a controversial figure because some of his (other) writings are popular among conspiracy theorists. I haven't read that stuff, but this certainly made sense to me at the time that I read it.
[1] https://ia801601.us.archive.org/4/items/CarrollQuigley-TheEv...