It's such a nightmare at my current job as well. Everything always just breaks and needs investigating how to fix.

Even putting aside the MITM and how horrendous that is, the amount of time lost from people dealing with the fallout got to have cost so much time (and money). I can't fathom why anyone competent would want to implement this, let alone not see how much friction and safety issues it causes everywhere.

> I can't fathom why anyone competent would want to implement this

Compliance. Big financial orgs. and the like must show that they are doing something about "data loss" and this, sadly, is the easiest way to do that.

There's money in it if you can show them a better way.