I don't think that's the primary reason for CEOs being paid a lot. I think a much bigger reason is: For large companies that manage large amounts of resources,

I don't think that's the primary reason for CEOs being paid a lot. I think a much bigger reason is: For large companies that manage large amounts of resources, company-scale decisions are extremely impactful, and therefore it may be net beneficial to pay tens of millions to get someone whose decisions are slightly better. For example, someone who on average makes 0.01 fewer billion-dollar mistakes per year is worth $10 million per year on that count alone.