And by doing that said companies are devaluing their own IP and creating an organizational knowledge debt. Companies that work that way will in long run get outcompeted by shops that figure out (I don't know how) how to manage this better.

What's worse, companies might be fine with "devaluing their own IP", since companies are not deciding, execs are.

And those execs will get their bonuses anyway, and will be drinking their champagne far away from their executive roles and the company by the time that's felt.