Like Wayne says the truth is somewhere in the middle.
I can't say whether or not the steam program is run incompetently or not and if the repair and maintenance strategy with the budgets and facilities they have is sound or flawed. There is a lot going on behind the scenes that outsiders may not be aware of but that will never stop the "armchair quarterbacks" and fantasy railroad operators that think they know the best way. If the current mid level managers are truly incompetent higher up corporate types would have gotten rid of them a long time ago.
I'm sure UP gets a lot of favorable media coverage when the trains run and that helps the company's image but running the trains on mainlines can be a big and expensive logistical problem that can interfere with their primary business of running freight trains.
UP and other railroads could have sold all the steam engines for scrap value many years ago but they chose to donate some to cities and organizations. Some are able to properly maintain them others have let them fall victim to the elements and vandalism because they didn't have the resources to do it right. That's life.
STOP COMPLAINING Enjoy the steam engines when and while you can.
Someday maybe 10 or more years down the tracks UP, NS and others may decide that even though they are highly profitable companies and the engines give them good publicity steam and heritage diesel trains will be too expensive or complicated to operate on a modern railroad