The truth is:
SRD is a management friend and family plan - it eliminated the voice of the second opinion in the organization. The perception of 2nd opinion is that it must be from people who are unhappy. After SDR, the remaining people who suffer most are the people below the eliminated SDR. They lost the opportunity to evaluate different options.
Not all managers are stupid. But there are many management positions occupied by people who are smart but not capable. This is a deadly combination together with SDR.
How un-capable management dealt with their deficiency is part through external consultants. Consultants, with some credibility on the paper, justified what the smart management thinks what they need to do. Consultants must keep the management happy and do what the management want or risk the lost of the next job. Consultants are smart too. Numerous "opportunities" were identified. But the whole thing repeats.
Why this whole thing keeps repeating every 4-6 years without anyone bearing the consequences? The smart management always move to a different job frequently before the market performance data show up. No one can catch up with them. "I am new to this position. This project started before me." is always the right answer.
With the huge amount of available resources, anyone would had expected lot more accomplishments from this company than the actual. This is THE truth.