Occam's razor, and my familiarity with the industry, both tell me it's not malicious but rather just various shades of incompetence & misaligned incentives that are producing such high amount of "spec churn".
But if it were a strategy, "EEE" or "Embrace Extend Extinguish" is not a good term for it. Maybe call it EEEE. "Extend Extend Extend Extend".
But if it were a strategy, "EEE" or "Embrace Extend Extinguish" is not a good term for it. Maybe call it EEEE. "Extend Extend Extend Extend".