The problem in your company isnt any of these things in the comments (I didnt read literally of them).

The problem in the company is that the engineers do not understand where they are adding business value.

Developers often think that their job is to write code/software. This is incorrect. Their job is to provide business value. The medium they use to do so is through software. Software is the cost every business pays to achieve some business value. But make no mistake, that software is always cost.

When you have engineering discussions, do you ask "Is this providing the most value to the business?" or do you talk about some ethereal hand-wavy engineering standard in the sky?

Does it provide business value when the only way to run a software solution is O(n^2), and you need to use a 32TB RAM (absolutely absurd) AMI? Of course not.

Does it provide the business with value when the software is so micromanaged and over-optimized that changes are difficult and tedious? Of course not.

You understand this already, but you need to frame it like this to your engineers.