Yeah, this is 100% correct. I comically left Riot after ~6 months for this exact reason. Obviously it's a large company with many different flavors of teams, and it sounds like this team maybe has gotten it together, but by in large most haven't.

While I was there I was working on some of their core games tooling and felt uneasy about my day-to-day. My teams tech debt was quite literally owning them. Constantly missing sprint scopes, spending countless hours arguing and debating about trivial stuff, it was all a mess. They ended up laying off a number of people from that team in a pretty shifty manner so maybe things have gotten better since then.