Yes more stuff besides programming needs to happen but in a large corp. doing all those ancillary things takes a lot longer than it needs to. For example if you needed to buy a larger hard drive for your dev machine as an individual you can just go to your favorite online retailer order it and have it in a day or two. At a large company you would have to deal with a litany of people forms and other nonsense that could stretch on for weeks if not months. If you've never experienced it you can't possibly imagine how bad it really is.
I have experienced it (event got yelled at at company X for upgrading my computer to 1g from 512m - just bought a 512meg chip at lunch for about $40). I still don't think that just being able to replace your own drive and such will allow someone to generate 10+ times their previous value. I'm not intentionally trivializing your point of view - we'll just have to agree to disagree. :)
