I'm just saying I would be shocked if that were the case.
I would be, too. But that's not what I meant.
What I meant by my earlier post is that the Imperium gets more bang for their buck by spreading a relatively moderate amount of materiel across a great many Guardsmen than a lot of resources on less Guardsmen.
I think we can all agree there, right?
Also, materiel might be spread thinner than you anticipate. Take the humble Chimera. It's produced on Forgeworlds, yet it is also simple enough that Hiveworlds can churn them out by the tens of thousands. The 5th edition Guard codex states, though, that mechanised infantry companies are still quite rare "because it is difficult for most Imeprial Commanders and PLanetary Governors to obtain and maintain enough of the vehicles needed..."
I don't doubt the Imperium's industrial might is staggering, but I wouldn't be surprised if the Imperium has a lot more human-coin to spend than it does materiel.