Yes social engineering can be incredibly effective. I completely agree, but there is a bit of an obsession with it these days and imo it's over indexed, because at the end of the day the type of social engineering detailed in that report typically just provides access.

In some cases, the target is important enough and has enough organizational power that accessing the network as them is sufficient, but that's not often the case. What that means is that in those other cases social engineering (which in that report you cited is often just phishing) is providing, typically, internal network access. An attacker will have to move through the network and exploit software typically to continue their attack. There are many points in this chain that the weakness lies in software or configuration. If effort was placed on making those systems better it would likely see better results than hyper focusing on the social engineering, which is significantly more difficult to stop, especially with all of the things you mentioned on the horizon.

My point is then that even if it is a part of 74% of breaches, according to Verizon, it's not necessarily sufficient and is often paired with software level exploits.

And I know this because my company does plenty of red teaming, and we use social engineering but at the end of the day the more interesting result comes from a software exploit or just abusing a weak configuration.