Consulting means you can hire someone with a vast experience on your business domain and capitalize on that experience to help you make informed decisions, optimize for a better use of resources, you don’t have to be building all the time to provide value ;)

You need some consulting in order to build something in an efficient way when organization are so big.

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on the grand scale it seems like a racket to me

“It seems” sums up the discussion, it’s your perception. It’s definitely not a racket, and consulting business are just like any other companies, designing their services to be profitable for them