I think a part of it is that humans, or at least those that make their way into management, are in large part very visual creatures. If you can’t show them progress in a traditional visual way you sort of have to figure out some contortion to show some visual thing to use as a proxy of progress to keep the faith. Sometimes it can be achieved through selling some abstract progress metrics about work remaining (most often entirely detached from reality) but that only works so long.
More often you end up knowingly spending a large percentage of resources on vacuous side projects solely because they demo well to management in the short term — it’s a distraction but a way to keep the faith and the resources. I find it funny how much time and energy we’re willing to waste to play the game — paying the souped up visual taxes for decision makers, while doing the real work independently, often in the dark because we know management will react short sightedly to the black triangles.