I haven't worked in places using off-the-shelf/SaaS CI in more than a decade so I feel my experience has been quite the opposite from yours.
We always worked hard to make the CI/CD pipeline as fast as possible. I personally worked on those kind of projects at 2 different employers as a SRE: a smaller 300-people shop which I was responsible for all their infra needs (CI/CD, live deployments, migrated later to k8s when it became somewhat stable, at least enough for the workloads we ran, but still in its beta-days), then at a different employer some 5k+ strong working on improving the CI/CD setup which used Jenkins as a backend but we developed a completely different shim on top for developer experience while also working on a bespoke worker scheduler/runner.
I haven't experienced a CI/CD setup that takes longer than 10 minutes to run in many, many years, got quite surprised reading your comment and feeling spoiled I haven't felt this pain for more than a decade, didn't really expect it was still an issue.
I think the prevalence of teams having a "CI guy" who often is developing custom glue, is a sign that CI is still not really working as well as it should given the age of the tech.
I've done a lot of work on systems software over the years so there's often tests that are very I/O or computation heavy, lots of cryptography, or compilation, things like that. But probably there are places doing just ordinary CRUD web app development where there's Playwright tests or similar that are quite slow.
A lot of the problems are cultural. CI times are a commons, so it can end in tragedy. If everyone is responsible for CI times then nobody is. Eventually management gets sick of pouring money into it and devs learn to juggle stacks of PRs on top of each other. Sometimes you get a lot of pushback on attempts to optimize CI because some devs will really scream about any optimization that might potentially go wrong (e.g. depending on your build system cache), even if caching nothing causes an explosion in CI costs. Not their money, after all.
We always worked hard to make the CI/CD pipeline as fast as possible. I personally worked on those kind of projects at 2 different employers as a SRE: a smaller 300-people shop which I was responsible for all their infra needs (CI/CD, live deployments, migrated later to k8s when it became somewhat stable, at least enough for the workloads we ran, but still in its beta-days), then at a different employer some 5k+ strong working on improving the CI/CD setup which used Jenkins as a backend but we developed a completely different shim on top for developer experience while also working on a bespoke worker scheduler/runner.
I haven't experienced a CI/CD setup that takes longer than 10 minutes to run in many, many years, got quite surprised reading your comment and feeling spoiled I haven't felt this pain for more than a decade, didn't really expect it was still an issue.