Same thing with hardware in every company I've worked at. Really, "Sr. Staff Engineer Alice" makes $300k/yr, but only gets a budget of $2k for a laptop that's meant to last four years and is their primary tool? How does this make sense?
I see devs that are paid a fortune and they use these silly 20 or 24 inch monitors and I don't understand it. A large 4K monitor is a very cheap and really increases productivity. Give them 3 ffs.
Meanwhile, there is an accountant somewhere that thinks he's a genius for keeping the hardware budget in check.