Because we have been led to believe that the "titans" of industry are these super above average smart people. In reality it's a bunch of nepo babies with no unique skills (other than, perhaps, a good education) which only copy each other.

After covid, all big IT companies started hiring like mad men... Then they all started firing people like crazy. They are driven more by speculation on their stock price and FOMO than any actual business strategy

Maybe in the distant pre-cloud past, when sysadmins were still a thing, you'd expect a bigger staff to be needed to manage a bigger datacenter.

But a few devs who know how to spin up a thing with auto-scaling can accomplish a lot