Any time I’ve been subjected to anything like crunch is when management sucked and didn’t really know how to time manage projects. I know it’s not the same, but micro management and asking for pointless work is often the issue, also managers not understanding how long things take to work or that you might have other things to do in you day job.
I feel part of the problem is the high expectation on ND and in particular how their work is picked apart.
You can have workplaces that schedule 80% of your time in meetings so you have little to no time to do actual work unless you work overtime. The alternative, which is closer to what Naughty Dog sounds like, is you have no real planning or time management, so people are working on the wrong things, working on things that are already scrapped, or working on other people's emergencies (failure to plan) instead of accomplishing your own work. I work in a place with very little management structure, and even though we don't have this crunch problem, I fully understand the workplace he's describing. You go from a place that boasts that it's never had an employee quit to a place that has trouble hiring or retaining anyone of value. It's a slow creep, but you hit an inflection point where it suddenly becomes a very noticeable problem.