When I heard Doug Hall speak recently, he talked about challenge of launching new products in companies with deeply separate functional silos. It can take a peace treaty to get a product through this system, so the "safest" products win.
Too often, I think, it ends up like this cartoon, with too many puppeteers at odds. And the consumer gets the same old, same old.
Of course, the best products are strongest because of the diverse teams that work on them. I think Apple is one of the best at this: bringing structural design, ui design, licensing, etc. all together in a coordinated way.