“Have they been tethered to fedgov for so long, they’ve become bloated and ineffective, just like fedgov”.
Ding. Ding. Ding. We have a winner. This exactly Boeing’s and LM’s problem. I was a consultant for ULA through 2013. I am an Electrical Engineer by schooling but served in the Program Office for the Orion Program. My specific systems area of responsibility was the Launch Abort System. I knew back then that SpaceX would eventually catch up with and then, eventually overtake them. The bureaucracy and the glacial pace with little sense of urgency was astonishing to me. And, of course, there was always an eye open for change orders that would justify soaking Uncle Sam for more money.
When that design and proof of concept was completed I was very happy it was over.
You and I have had similar experiences.
Problem with Boeing is their workforce has not embraced change very well. Too much tribal knowledge amongst non-engineering work staff. The workforce reduction will make a financial difference, but until the organization accepts change, the culture will remain the same. This is a bandaid being put on a gunshot wound.