[swatcoder]

> engineering seems to matter so little to a business's success

That's because your engineering career coincides with a race to the bottom, where advertising-saturated, FOMO-afflicted consumers demonstrated a preference for accumulating as many cheap/free/subsidized things that they could over a few durable, valuable things that genuinely benefit them.

It wasn't always that way, and if the economy does encounter a strong correction, it could very well change again.

[asdff]

It has always been this way though. Who is really qualified to evaluate something but another engineer? Perhaps the first record of a slop product is the Complaint to Ea-nāṣir from 1750 BC.

[jltsiren]

Not always. I think it's an inherent failure mode of markets when everyone is playing by the same rules.

You could simply invoke Goodhart's law: If the purpose of a business is to make money, its ability to make money is not a good measure of the value it creates. Except when there are competitors playing under different rules. Then capitalists need to make better products and services than their non-capitalist competitors to be able to make money in countries that can buy from either side.

During the Cold War, the planned economies of the communist block provided the necessary competition. When that competition disappeared, financialization gradually took over. Now there is China, which seems to be a command economy that uses markets as a tool and prioritizes the real economy over finances. Maybe it will provide enough competition to force capitalists behave again.