It saddens me to hear how cynical you have become. Certainly there are some companies that operate this way. But a much larger proportion are driven by true desire to create better products… or in some cases driven by other companies besting them.
I have worked in the high tech industry for nearly forty years at companies supplying cutting edge components for high end audio and electronic devices… Burr-Brown (leader in DACs and Other high end audio components), Texas Instruments, and Sharp Corporation. I know hundreds of engineers, marketing managers, and executives. There is tremendous pressure to advance… but the prerequisite is performance, period. You just cannot pretty stuff up, false market it and stay in business in the high end.
Most of the electronic devices you own… including the GPS system in your car I have had a hand in bringing to you. The hundreds of thousands of people that have done this are by the greatest margin hard working honest people doing the best for themselves and their companies to bring the very best possible. As you move down into very budget oriented stuff… things change… still a lot of work, but more marketing, less innovation. I have encountered that environment as well.