That's not at all my experience of 25 years in Tech both in that industry (Products, Services and even Startups) and others (mainly Finance).

More people (or more time - i.e. overworking) most definitelly do not mean more results and in some case can even mean less results.

If seen departments 3x as large producing less than half the results, and way more so when talking about small teams (in my area 4 senior devs familiar with each other can outproduce a whole department of mid/junior-level devs).

Curiously Tech Startups were especially inneficient, probably because they tended to hire young and enthusiastic people ("With a tendency to run really hard whilst not knowing were they're trying to get to") and don't really have much in the way of software development processes whilst well established (but comparativelly boring) companies hired the kind of people in their 30s or more with families who want a good steady salary, and had well established team structures.

But don't take my word for it, just read books like "The Mythical Man Hour".