Both things can be true at the same time. The MIC acts as a tool to divert taxes away from their intended use and back into the pockets of the oligarchs. At the same time, it also lacks the industrial capacity to keep up with Russia in terms of shell production. In fact, these things are directly related. The way to maximize profit is to invest into making a few really expensive items that require a lot of maintenance. This is how you end up with projects like F35 instead of focusing on the basics like being able to make artillery shells in large numbers.
Which is exactly why the MIC tried to turn artillery shells into high-tech wunderwaffe packed with proprietary guidance systems, instead of just making plain old shells.
I really don't think the MIC grasped how drones would make the old-fashioned low-tech shells so much more effective. No need to just blanket an area with massed shelling, no need to send in soldiers to do artillery spotting. Just send in some cheap drones to do the spotting for a relative handful of guns.