You can also get companies sinking because people spend too much time on their pet projects which aren't ultimately of much value. I've generally found things sit somewhere in the middle and the feeling of 'X are idiots' for any given layer X of the organisation correlates more with the quality of communication than most other things.
For pet project folks, I used to think "person who's excited to refactor the entire codebase because they're excited by some new technology they read a post about, but doesn't actually understand the codebase nor the technology" was an exaggeration until I got one as a team lead.
