The problem with this logic is that it only sort of works. I know a lot of executives personally and most of them are not high skill at all. Most of them aren't

The problem with this logic is that it only sort of works. I know a lot of executives personally and most of them are not high skill at all. Most of them aren't even very bright. I guess you could make the case that their primary skill - reading the story that the people who promoted them wanted/needed to hear - is in fact what's being rewarded, but it has nothing to do with their applicability to high leverage work at all.