> Front-end, back-end, QA, DevOps, etc. are all different concerns for the same outcome and impact.

Overall, I got the feeling that in their field business execution matters a lot more than technical knowledge or optimization. Which might be the majority of companies around, and why so many teams can get by with full generalist teams. And I suppose the money part was in line with priorization saving the business.

That's not an advice I'd give to anyone randomly. A company that is successfully growing in business and tries to tackle harder challenges along the way will benefit from going the other direction IME, and progressively push for more specialization to get better results without having to aggressively grow the teams.