From a higher up’s perspective what they do is not that different from vibe coding anyway. They pick a direction, provide a high level plan and then see as things take shape, or don’t. If they are unhappy with the progress they shake things up (reorg, firings, hirings, adjusting the terminology about the end goal, making rousing speeches, etc)
They might realise that they bet on the wrong horse when the whole site goes down and nobody inside the company can explain why. Or when the hackers eat their face and there are too many holes to even say which one they did come through. But these things regularly happen already with the current processes too. So it is more of a difference in degree, not kind.