If galaxies grew hierarchically, then massive galaxies required many mergers. Major mergers inevitably create a classical bulge. On the contrary, about 80 % of observed galaxies give evidence of no such bulges, and giant pure-disc galaxies are commonplace. The tension can be quantified by comparing the observed distribution of galaxy shapes today with predictions from high-resolution hydrodynamical cosmological simulations in the ΛCDM framework, revealing a highly significant problem that is unlikely to be solved by improving the resolution of the simulations. The high bulgeless fraction was nearly constant for 8 billion years.