There are too many companies out there that started with a good product/service - and then bureaucrats took over. Smart companies minimize layers of management, and manager headcount. Bad companies don't - and they eventually are unable to grow/innovate. A shockingly high percentage of corporate America is parasitic management.
Intel happens to be in an industry that moves so fast that this doesn't work for long, relatively.
I don't even know who my boss actually is now.