Please rephrase your understanding of technology.
With the mayo-reference in mind, can this be part of the tech-industry? Short answer, definitely. You’ll understand why in a minute. Technology is vast, all-encompassing and not limited to hardware and software use by beautifully compiled integrated circuits.
Technology companies becoming conglomerates doesn’t make the tech-industry diluted, nor is the tech-industry moving into a non-existent state. The only time this will happen is if one has a misguided, or wrongful understanding of what technology is. Only then will it happen to the individual with the perception of what’s happening which isn’t aligned with his/her thoughts on it.
Technology is defined as the practical implementation of knowledge in a particular field of expertise interrelating with life, society and the environment. Technology is a branch of knowledge.
Now let’s go back to the mayo example, did the company use knowledge of mayo creation for creating their own version of mayo through some technical application? Yes. Does this make them a technology company as per definition? Yes.
Technology isn’t just about hardware or software. There might be technology within the two aforementioned, but use of the results of technology can also be technology. With the knowledge gained from new (or existing) technology, it can facilitate the practical application thereof to form new technology.
Please don’t limit yourself, or your perceptions, on what you perceived technology to be. You’ll only frustrate yourself and those who do not understand it with you.