Wouldn't this be considered a very high performing engineering team with a very poor product team? We're only evaluating engineering - not the product decisions behind that engineering.
Sure, a siloed organization. Some folks care about the whole process not just the work in front of them. In fact, one of the biggest demotivators and morale destroying things is doing work that isn't meaningful (and the person isn't just about making money for themselves which would make the work meaningful to them (some of us don't care to be mercenaries...).