A lot of game studios are also not ran by professional management (especially at the time, it's been slowly getting better in the intervening 20 years). I've worked for many different companies & a lot of stuff is really just decided/made up as they go without much process.
Even succesful studios like Rockstar are not necessarily well managed, often success/money just papers over a lot of issues (plus burning out their staff with insane working hours to compensate for lack of planning).
Even succesful studios like Rockstar are not necessarily well managed, often success/money just papers over a lot of issues (plus burning out their staff with insane working hours to compensate for lack of planning).