It was common in many customer cages. I even saw cages setup in 2000 where a cage contained 500k of sun and cisco hardware still in their box after 8 months. I guess that startup was growing so fast they hadn't gotten around to plugging things in yet /s.
More likely they either ran out of funding or never got the growth they expected. Back then there was often a large disconnect between H/w bought and H/w needed/used. But money was there and hypergrowth was "just around the corner."