"Perpetually understaffed IT team"
I think that is the description for 90% of IT departments everywhere. You wouldn't build a house without laying the foundation first, but businesses are so reluctant to properly staff and fund IT, which is often treated like more of a redheaded stepchild or necessary evil than one of the foundations that it is for all but the smallest businesses. And this includes not properly compensating most employees at every level.
Why? I think because IT isn't creating or selling products but instead seems like just a money sink to leaders that are too high up to see down. "I can get my email, what do you mean we need to spend another 500K to upgrade infrastructure? Didn't we just do that?" (ten years ago)