I think it's more that there are a large number of employees who don't actually contribute much and treat it like a retirement gig. I've seen people who are only in the office from 10-5, take long breaks for lunches, socializing, working out, massages, etc. and regularly "WFH" one day a week on top of that, and clearly aren't very productive (note: there are people who keep that kind of schedule and
do get a lot done; I'm not talking about them).
It's possible to give the appearance of being busy and valuable if you make every project way more complex than it needs to be by scheduling lots of meetings that end up mostly involving bike shedding, publishing lots of design docs and spreadsheets to gain visibility, submitting mediocre code so that you can subsequently submit lots of cleanup CLs, and so on. The game is easier to play these days because the company is so large that entire teams can go off the radar and not have to be accountable.
This happens at every big company and it isn't the norm at Google, but it happens quite often. It's really hard to fire employees, and a pain for managers. It's way easier to just let them be, and for a low-mid level manager that can even make it easier for them to justify additional headcount, which makes their org bigger and increases their standing.