There may be some aspect of just incompetence, but ignoring that, companies have an HR / salary strategy just as they would have a pricing strategy for their offering. Some offer top tier - like netflix claims to, and are banking on using the "top" talent they recruit as a source of competitive advantage. Others deliberately offer less, because they know that the stuff they need developers for does not need 10xers and they would be wasting their money trying to outbid others for top folks. That's not a bad thing, it's a deliberate strategy.
I once worked at a place (and left) that made the shift from acting as a top tier player in its market and deliberately offering good salaries to attract top employees, to moving downmarket into higher volume, lower value work, and offering salaries that matched. It's not fun, but it's the reality of business.