I think a lot of executives see engineers as uppity, well-paid factory workers, and absolutely hate that the gap between their own pay and engineering's pay is

I think a lot of executives see engineers as uppity, well-paid factory workers, and absolutely hate that the gap between their own pay and engineering's pay is so small. In order to maintain their world view that they are better, higher-class people, they need to be making 10X-100X what their median worker makes and they need their median worker to be afraid for their jobs and subservient to them. Current software engineering comp. (and until recently, the ease of engineers to job hop) contradicts this world view. The last thing they want is to be seen as [ugh] PEERS to regular workers. That won't do at all. Workers need to be taken down a notch and shown their place on the totem pole.