Value engineering can be a little broader than gear and lights.

We've cut 12% off of a job by relocating the service to the electrical side of the building. Not much of a stretch for us to make the observation and save a hundred feet of underground. Saved the customer over $10,000.

Some engineers don't know, and some don't care about keeping costs down. Consultants (engineers) spec higher priced stuff and unreasonable standard because it helps justify their fees. They'd rather put down a Holophane light than a Daybrite, same effort for them, runs job costs up. (Don't spam me on the light mfr's, it's just an example).