Our formerly sane and sober engineer is now tasked with butchering
his own product. Originally designed with a 10+ year component
lifetime and MTBF, he starts by removing almost all his safety factor.
Voltage ratings are cut to the bare minimum. Optional manufacturing
features (JTAG port, test points, documentation, removable fasteners,
etc.) are all removed. Sectional testing is replaced by parametric
testing and sample testing.

This is not science fiction. I've been through two consulting
exercises where this was almost exactly what happened.
Nobody wants to cut corners, but the mechanism for forcing
engineers to cut corners is built into the system. Quality is a
luxury these days.

Ouch. That's frightening to hear. I guess companies figure one lawsuit is
cheaper than the higher (ie, less-competitive) price of 100,000 units.