Consumers are so numb to data breaches that these events now bring very little outrage. I think without that anger from the consumer, there's little incentive for companies to do more to stop data breaches from happening.
I think many companies think they can solve this issue by throwing money at their cyber security teams. It just happens that cyber security teams are often ineffective.
Where are you getting your information from? The levels of security negligence I hear about aren't even a big ask. Huge companies neglect to do basic things like "don't store your passwords in plain text" or "make sure you salt and hash your passwords".
I don't think it's fair to say cyber security teams are failing if companies are blatantly doing the worst and most obviously wrong things on the daily at the highest levels.