I would argue most executives everywhere are "cosplaying", but the ones at big stable companies have a huge headwind in that the company has already figured out

I would argue most executives everywhere are "cosplaying", but the ones at big stable companies have a huge headwind in that the company has already figured out how to make enough money to pay their inflated salary. Startup executives are in the business of figuring out how to make that happen, and I get the impression that most of that is just hard work and luck rather than any skill or experience. That said, there is probably soon to be lots less demand for "executives" that have only a little bizdev experience and a failed startup. If you are a good bullshitter you can maybe find another one and roll the dice again. More likely you will want to find a "boring" job and keep your head down for a while (if you can).