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I've worked in software testing for over 20 years now, I'd bet jswinden is spot on. The focus of testing is always to mitigate the risk of releasing something, never to find and remove all flaws. It is almost always time-boxed - most of the skill in testing lies in working out the best way to use limited time. Project/Programme Managers are incentivised on time and cost, quality rarely comes into it in the same way.
It looks to me like competitive considerations to get 'something' out there over rode common sense.
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