Breaches are one of those things that no one cares about until they happen. Assessing and mitigating risks is costly and no one wants to spend money on that.
And let's be real, the penalties for data breaches, especially ones that transpired due to willful negligence, are an insufficient motivator. It happens so often that the public just kind of forgets about it the next day.
Remember the Equifax breach in 2017? The one where the personal data of 147 million people was exposed? Well Equifax got a slap on the wrist when they should have been fined into oblivion. That's the only way businesses will start taking cyber security seriously. The US desperately needs GDPR-like legislation because at this point our collective lack of data privacy and security is a joke.