I haven't been a Yahoo! employee for 7 years, but back in my days (dusts off his old cane to tell the kids to stay off the lawn) the product was run by product management, while engineering was responsible for development and maintenance.

With top management shakeups every week or so I'd imagine the product management part of Yahoo! being in a state of disarray, with some people leaving on their own, some getting the boot, random new people showing up, but nobody sticking long enough to make any product decisions.

Reliability is the only remaining thing on the engineering plate, and with good infrastructure a lot of smaller projects from here http://everything.yahoo.com/ just run themselves most of the time.