It's much worse than that. Plenty of developers work on initiatives that get canceled, fail, or are only marginally successful (enough to incur ongoing support work but not really enough to make their organizations more successful). I would guess that most of that waste isn't reflected in these survey responses. Some of it is inevitable since we can't see the future, but some of it is due to lack of care in prioritizing initiatives or poor execution (perhaps the initiative would have gone through if it had moved faster or produced better results).
It's much worse than that. Plenty of developers work on initiatives that get canceled, fail, or are only marginally successful (enough to incur ongoing support work but not really enough to make their organizations more successful). I would guess that most of that waste isn't reflected in these survey responses. Some of it is inevitable since we can't see the future, but some of it is due to lack of care in prioritizing initiatives or poor execution (perhaps the initiative would have gone through if it had moved faster or produced better results).