>all the inertia and inefficiencies of the organization
Honestly you can probably use this as a means to measure the amount of regulation, graft, and corruption in an economy.
In a wild west free for all code velocity would likely be very fast with software popping up, changing rapidly, and some quickly disappearing.
But in an economy that doesn't care what you make, then who you pay or what laws you buy is far more important.
In many organizations, software just isn't what makes the money. It's a supporting role at best. The software needs to work reliably, and it needs to keep working for a long time, but it doesn't need to gain new features at a rapid pace.
If the janitors swept the floors 10x faster, we wouldn't see any KPIs to shoot up from that. You still need it to happen regularly and reliably and on demand in case there's a mess, but it doesn't need to be fast.