Leadership. There are probably other problems, but this is so much bigger than anything else, other stuff isn't worth mentioning.
In short, they don't know how to run a big organization well.
This mostly falls on the CTO who makes rash decisions without thinking them through. The CEO is to blame as well for enabling such bad leadership, as he seems to sit back and just let it happen.
The CTO seems to excuse chaos by saying this is how a production companies work. While production-focused organizations do sometimes change on a dime or have to force the organization to hyper focus on particular bare bone features, the CTO seems to feel that it excuses any type of chaos induced by him or others at his level upon everyone below.
That type of stuff slows development down and, in a production-focused organization, can kill it. But, instead, the CTO uses it as an excuse.
CTO also seems happy to let go groups of people that he feels have no value. I think leadership has that right, but some of the people let go were people that would have had value in other parts of the organization had he only asked. This is especially important, given he wants us to move faster than ever before.
This type of reactive leadership, including his personality has led to an unfortunate toxicity at the top. Things have become much more political with a 'find someone to blame' culture.
I'd say more, but other commentors have brought up other aspects already.
