I think some of both
Yes, well equipped and poorly managed companies will track activities rather than outcomes; old habits die hard, however outmoded.
Yes, you have reiterated your main point. My main point is that not all types of work can be measured with a one-size-fits-all approach, even to measure outcomes, and even online. IT consulting companies make mega bucks crafting individualized solutions. Why? Because of the vast, worldwide variety of situations with which workers and their computers interact.