Predicting which projects will be valuable, directing resources in their direction, and making sure the right people are doing the right work with as few distractions as possible is the definition of high quality management and leadership.

Most managers are mediocre, and many are poor. Some are lucky for one or two projects but can't keep it up consistently.

Companies with a lot of wealth often scattershot random projects - some of which are directly competitive - in the hope that one will stick.

The people who have the insight and intuition to skip this and hit the mark directly are incredibly rare.

A lot of business culture is a set of cargo cult "solutions" that pretend to address this problem.