Small company gets big, gets taken over by MBAs who all hire McKinsey to help themselves take over more of the company. The people at the top become professional ladder climbers, eventually too much of the leadership got their for the wrong reasons and the company is unable to insulate themselves from corporate's bad decisions.

Kinda like Goodheart's law but for promotion criterion.

The number of fairly senior people I've encountered who spend their whole career presenting things that have never been built as if they exist is exhausting.