How to conduct good DD in IB or PE?

I see the term due diligence all the time, and I work on a lot of due diligence. It seems that most due diligence are consist of the following: - Overview of company, product and any material recent event - Industry analysis - management team - value proposition of the company

However, all of these are literally just bs imo with not a lot of value. Can someone shed some light on how you will think through a deal and conduct proper due diligence from a sell side or buy side role?

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