Ok, maybe I came to the wrong place to say what I'm gonna say because I guess that a sizable part of the demographics here works in hot, meaningful projects, but as a corp worker for the last 8+ years, it has been my experience that a lot of companies have products that are used either internally by their own employees or by another corporate client that still pays for them out of inertia or because there is just too much custom business logic that now it's too costly to replace them.
In both of these cases we're talking about uncompetitive products that are probably going to remain so before being discontinued. And in both of these cases companies will try nonetheless to create a SCRUM-like arrangement with PMs and POs and behave like they are building a revolutionary product, urgent taks and pressure for results included.
It has also been my experience that in this kind of environment normally PMs and POs will be fully invested in doing politics to try to climb up the corporate ladder without much concern about what makes a good or usable product. They will steer the project in whatever direction makes them look good to the administration or the client at the cost of creating a fragmented product that many times looks like it's doing a random walk in terms of functionality and improvements.
I'm not old enough to know how things were built in the 60's/70's/80's(no SCRUM/PM's/PO's I guess) but the catastrophist discourse that there's a deep slowdown in productivity compared to the previous decades and that today we're mostly relying on things we already did in the past maps pretty well with my perception.