The NHS has been underfunded for over 2 decades. This underfunding escalated in the last decade. Most of us were complacent and didn't make a fuss when we should have done. Those who did make a fuss were labelled as trouble causers and fear mongers.
Increases in waiting times and lists have been warning us that the NHS wasn't coping with it's normal workload but most of us turned a blind eye and trusted that if we needed it then it would be there. Now some people are paying the price for this turning of a blind eye. Not enough protective clothing for staff and not enough basic equipment.
As for ventilators, no health service could mothball thousands but the government and all subsequent governments have known since 2016 that we didn't have enough to deal with a massive increase in needs. The Influenza Pandemic exercise (Exercise Cygnet) showed up our short comings, one of which was our lack of ventilators. Surely that was the time to get companies like JCB and Rolls Royce on board. Design a ventilator that could be produced with very little alteration to existing machinery. Then, rather than going through this period of design and testing, ventilators could have been in production as soon as it was apparent that they'd be required in high numbers.