Mostly because there is a MASSIVE oversupply of people that can’t and won’t do anything useful, and insist that their technical incompetence makes them uniquely qualified to be in charge of everybody else that is doing the work.

But at some point, that’s exactly how it has to work out, because CEO is a poorly-understood role that is only discoverable through natural selection among legions of technical bozos. One of those crazy idiots can make you rational experts a billionaire, but most of them will waste your time, and you probably can’t tell the difference.