My own anecdotal experience I heard a much larger competitor in my line of work have 3 teams competing against each other for a product. All failed except one which tagged up with an external partner to build a solution for them. Apparently many large companies don't know what to do with all their employees. I spoke to some of them later after my company hired some and all some engineers hope for is to actually complete a project.

Something similar happened to one of my previous employers. We were less than 100 people and cranking out many successful projects. Once we got acquired and nearly quadrupled in size, none of the projects succeeded. Many of the early contributors left one by one due to frustrations and pressure including me. The new management style had changed everything.