I absolutely agree with your opening statement about the flashy new operations usually being crap engineers, but cannot follow any of the rest or see ho it supports that assertion.
Or what little I can parse, seems backwards from my own experience.
For instance, the most I hear the word "practical" is to justify doing something inefficient but safe, ie use a microsoft product or service and accept it's limitations and cost, or some other safe inefficient choice like vmware before azure was a thing, etc.
So it doesn't support the idea that it's something the ignorant kids say, OR the opposite that the better engineers say it, it's just sort of a non-sequiter or something.
Personally I've grown to hate the word even though of course one has to use it and it's a valid concept to be practical. I just see it way over used to justify predictability over goodness.
The manager types don't really care about advancing anything. They do lip service to the idea of making more money by making something more efficient, but really any change at all is worse than any promised gain. Really they would love nothing better than to just keep cranking the machine they have now exactly the same way forever. They only change by force when the machine stops producing.