Vaush is correct but; The Buck
I feel like the underlying thing about a lot of contractor bloat is misunderstood. While I won't deny graft and bloat, the reason this (and a lot of other industries) are fucked up is due to:
Legal Liability
The reason that everyone has 35 different specialized subcontractors and is bloated and inefficient is because if your project breaks/kills someone, you have to find who to sue into the dirt. The buck doesn't stop with anyone and you throw it in a bloathole until the angry party goes away in confusion
This is the same thing as to a lot of bloat in medicine, but you could also argue that a lot of the reason shit is expensive is due to the cost of human life in America
Vaush is definitely on the right track, but I personally feel like he misses this aspect and hope he addresses it