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Notes -
If that VP has never sat down at a CDR and thought "these engineers are talking out of their asses," then wow, he's got some talented employees.
The defense industry is littered with projects that went over-budget in order to under-deliver. Software engineering wrote the book on feature creep. Tech startups scramble to get a functional demo together so they can pull enough cash to fund the other 80% of development. And no one involved in any of these wants to admit it!
It's just that in the world of real money and real deadlines, there is a continuum of "calling them on it." At the extreme end are the lawsuits and the bankruptcies. But at the other, there's a series of reminders that sunk costs aren't always a fallacy.
Any layman can tell you that the airplane flies. What he can't tell you is if it is worth $109M or only $100M. If it complies with every term of a thousand-page contract. If an extension to update one or two of those terms will actually achieve anything. If, in ten years, USMC techs will be cursing his name for signing off on the sick VTOL thruster.
Engineering involves challenge and rigor because the problems are fundamentally not easy. Knowing exactly how they'll turn out hard isn't easy, either. It's a collaborative process of dozens or hundreds of people collecting estimates, reports, designs, results, and bills into a coherent product. All of that can apply to science, too. When everything goes right, it does. On the other...well, sometimes someone just earns a layoff.
The point is not that engineers don't occasionally over-promise and under-deliver. The point is that unlike people who work in science or academia, they actually have to deliver.
ETA: in short, what @SnapDragon said, the critical difference between a scientist, an academic, and an engineer is that unlike the other two, the engineer actually has to actually produce something of value if he/she wants to keep their job.
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And that's the point. That's the one, last, important step that (much of) science is lacking. Have you built something that works AT ALL? It's not that engineering doesn't suck. It's that modern "science" is even worse, because so much of its product (random unreplicated research papers, written on esoteric subjects, skimmed by friendly peer reviewers and read by nobody else) never needs to pass that final filter.
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