Now if you needed to develop something not-urgent that involved, say, the performance department, database department, and your own, hope you’ve got a few months to blow on conference calls and procedure documents.
For that industry it made sense though.
Now that I think of it, I’ll bet a lot of companies have a system similar to this for their infrastructure… they just outsource it to AWS, Azure, Google, etc. and comparatively fly by the seat of their pants on the dev side. You could only scale that system down so much, I imagine.