I've worked in and with hundreds of enterprises, and literally never seen this in practice. As one gets further into management the work has longer-term deliver

I've worked in and with hundreds of enterprises, and literally never seen this in practice. As one gets further into management the work has longer-term deliverables, and many of those deliverables are invisible to managers and individuals below them. Put another way, the work product of a good executive is effective long-term decision-making. Of course it's harder to see the effects of this day-to-day. The daily work of a senior leader is mostly communication, alignment, and politics (i.e., resource allocation). From the outside (and sometimes the inside!) this looks like "lots of bullshit meetings." Coasting at this level simply means that your priorities aren't fulfilled, your initiatives fail, you're cut out of important decisions.