Here's what DEI programs actually do in practice, in my experience.
As a simple example, let's say there is an opening for a somewhat senior position, like a director. Your team does some interviews and wants to make an offer. DEI vetos it because every single candidate they interviewed was a white male. They don't tell you who to hire or not to hire, they just say that if you couldn't even find even a single woman or POC to interview, then you didn't look hard enough. Go back, consider more candidates who might not fit your preconceived notion of what you thought a person in that role should look like.
If after interviewing more people you still pick a white male, that's fine. DEI offices never force diversity and standards are not lowered. But they do have an impact - by considering more diverse candidates, that naturally leads to more diverse candidates being hired.
That's just one example of what they do.
You can argue the merits of the specific programs, but it's not true at all to say that those programs are just "puffery".
Reading the accomplishments in 2024 for our DEI program, it was essentially just marketing. Which has some level of value for sure, but the most valuable thing that came out of it was the number of conferences the head of the department went to.
Yes, when they were widely introduced in my large company circa 2016-17 it was explained to senior managers as part of HR's efforts to "align with industry best practices". During the meeting introducing it to VPs and dept heads, there were skeptical questions as a lot of groups were under shipping pressure and short-handed. There was also already a lot of "HR overhead" like various mandatory compliance training sessions that all employees had to attend every year (unrelated to their actual work). The company was also clearly already highly diverse at all levels from the CEO on down and had been for a long time.
The DEI training did end up becoming a yet another mandatory HR time sink and no one I know thought it was necessary or useful. The second year the program expanded to take even more time but the worst thing was they brought in outside trainers who started doing the "You're a racist and don't even know it" schtick along with weird tests and exercises. This became contentious and caused a lot of issues, especially because the context leaves people feeling like they can't openly disagree. There was a lot of negative push back but people felt like they couldn't use normal company channels so it was all in private conversations and small groups. Kind of the opposite of the intent of openness and communication.
For me, that was when DEI went from "probably unnecessary (at our company) but just another 'HR Time Tax" to "This is disruptive and causing problems." I'm not surprised that some companies are realizing that the way many of these DEI initiatives were implemented wasn't effective in helping diversity and that they were also causing problems. It was the wrong way to pursue the right goal. At our company, we got rid of the old DEI program in early 2020, so this broad correction pre-dates the US election 8 weeks ago.
Right-wingers are ready to believe companies are lying about some things but not about DEI (diversity, equity, and inclusion).