I feel like there should be a term for over-designing something that doesn't need to be redesigned. I guess "if it ain't broke, don't fix it"? A classic example for me is microwaves. The amount of variations I've seen to enter in a time and turn it on is absolutely ridiculous.
I think this is more of a mental and organizational phenomenon than one guy attacking a working machine with a spanner.
A simple lack of resourcing and time pressure may be part of it, but it may have componenents of a kind of willful ignorance of prior art and complexities of the world, even ego driven, self serving and arrogant attitudes.
Perhaps it is related to the famous NIH-syndrome in software, but clearly different too. In software I think this manifests as continuous churn of features and UI elements as well as negligence of usability and technical aspects.
”Fast Food Design”?