I can absolutely agree having seen this happening much too often. It’s like someone took the bad stories from Clayton Christensen‘s „Innovators Dilemma“ and implemented them down to the word. Protecting revenue pools and managing innovation by line managers are stereotypical examples here. However while not being brilliant at true innovation many larger corporates are doung a decent job in managing strategies to protect their business longer than you would expect. This may not be as fancy as the startup world but nevertheless pays their bills.