It’s true. I’m in IT management and I see how the business treats IT, and it’s budget with contempt. They don’t realize more money is made with up-time...
Some of the better places I've worked, IT people are seen as nice pets.
Others look at IT as office furniture, a necessary expense, but something no one pays any attention to until it breaks out from underneath them.
The two most successful places I worked, recognized IT as a force-multiplier and integrated it closely into the business. One of these was only temporary - management changed, and we were back to "office furniture" status. Strangely enough, the company's growth went sideways shortly thereafter.