Welcome to the world of enterprise software. Everyone hates it, it's easy to rag on it, but consider for a moment the constraints:
1. You are writing custom code for one user. Or maybe a handful of users. That means that all the salaries for the entire dev team, QA team, POs, PMs, managers, finance, HR, IT, facilities, salestaff, marketing costs, etc -- are paid by a small group of customers. Who gets special code made just for them. This is why it's so crappy yet also so expensive. This is why the "fully loaded" cost of 1 hour of dev time is so astronomically high.
2. You are working with clients that are constantly changing the requirements to this underfunded software project. These clients expect you to meet lots of certifications, fill out tons of paperwork, jump through hoops, etc.
3. Because this is a never ending stream of odd one-off projects for various bureaucracies, you are hiring from the bottom of the barrel in terms of dev pool. You are not google. You are not a game dev. You are not doing anything interesting with AI or the coolest language. You are not a startup. You are house of broken programmer toys, people who no longer care but drag themselves to work and do what is required as specified. A good chunk of your staff is from third world countries living in spread out timezones just clocking a paycheck. You have huge problems with turnover. Indian outsourcing companies, in particular, have a *terrible* time with turnover because their employees are given an endless stream of boring sh*t work. Anyone who has talent is always looking for a better job, where they own their code, their code is valued, and they work on interesting problems. But not you. Someone signed the contract to update the payroll system of Foo community college and off you go, never to see Foo or that code again six months later.
3. Have fun with three year sales pipelines, as you must meet an endless number of bureaucrats, flying around the country to land that Foo community college payroll client. You submit bids, fill out RFIs, give slideshows to bored Foo community college staff, trying your best to make the assistant deputy to financial operations feel special. Oh, all those sales costs, hotel, flight and travel have to be covered somewhere in that hourly rate, too. And those sales staff also need dental, 401K contributions, etc.
And at the end of the day, miracle of miracles, that payroll software is upgraded. You get the hell out of dodge and people are outraged that you charged so much, even though this work was done for a single customer, who wonder to themselves why they have to pay $300,000 to have some custom software written for them that would have been done by a smart high school kid in three months. This must be fraud! Look, there are *bugs*! And hey, you can buy a whole operating system for $100 from Microsoft, and that even includes some phone support! What a ripoff!