There were some good software developer and managers who really cared about the company and the product they were building, left the company. There are still some very enthusiastic Software developers working hard most of the time without any recognition. These are the guys produce most of the work without any recognition and career growth.
Managers are not concerned about the actual work or the product, they just want to speak few line (which they learn from hard working developers) in front of the management to pretend that they know everything. Managers are just like task masters, they do not want to fix the really issues or architecture or fix the bigger problem. They Will not look anything if its not coming from upper management no matter how bad the function/feature is for end user.
No matter how much you work hard here recognition/awards are reserved for YES SIR kind of dumb guys. Even if you do nothing...know nothing....you are dumbest in the group still you can get plenty of awards because you say YES SIR to you manager. It wouldn't be fair to expect positive attitude and team work in this culture.