It’s not waste. It’s theft. From the point of view of the people doing the administrating, the money they’re taking out is a goal, not a wastefulness.

It’s the exact same thing the music industry does to artists, or the “defense” industry does to the taxpayers. It looks wasteful if you think of it as trying to accomplish some goal other than enriching the people doing it, but that is exactly the goal, so it’s working perfectly.