As an engineer, I generally design with some excess capacity for future loads. I also go with the higher end on commodity products like conduit fittings.
I only get grumpy when the VE items do stuff like eliminate provisions for future loads, reduce receptacle counts to the point that plugstrips end up all over the place, Service sizes get cut to "Code minimum" and when price gets all the attention and quality gets none.
Please note that the seriously ridiculous light fixtures usually end up on my jobs because the (stereotypical) Architect generally selects them by appearance and sole sources their selection.
I had 1 job where the fixture package was $3 million; the ones that the Contractor was directed not to touch in any way during the VE exercise was $2.6 million.
