And the only reason any of this shit keeps working is due to old code from the before times that a lot of the new hires have no idea how it works and managements only hope is that no one breaks something important. Because if something breaks, it probably wont be able to be fixed.

To be fair that sounds like almost every tech company. Often it's spaghetti code written years ago by the boss himself and even trying to refactor it might break the very foundations of the business platform so nobody is allowed to touch it.

But at least in small companies the nepotism is usually family and friends getting promoted when they don't deserve it - not because they share woke ideological beliefs.