Ya, this is it. Myopically metrics driven cultures like this have a failure mode where you're too successful at chasing the metrics and the organization's sense of taste atrophies (you grow to lose trust in your taste because it's disagreed with the metrics so often, or other people push back on it because the metrics say ____)

So there you are: your organization has no taste or ability to create 'good' things that people enjoy, you're also so large that big or wild bets are too hard for the org to stomach. What options do you really have? Pretty much just 1) buy companies or 2) fade into obsolescence...