I agree. Software development is (as of now) in its arts and crafts stage of development. Expertise matters. Experience matters. Professionalism matters.
The "economic realities" are /symptomatic/ of the impedance mismatch of an 'industrial scale' demand on the consumer side and an arts and crafts production side.
> most .. projects fail.
It is a minor miracle that they can even be attempted and many even succeed.
The economic realities of software development require disposable human resources.