Earlier quoted context omitted.
That's how they got into those positions, so they select for folks who do the same, either directly or indirectly.
That seems excessively cynical (and self-excusing). The reality is it’s incredibly hard to measure engineering work even in the best case scenario, never mind something as abstract as software and in as opaque an environment as a modern remote/hybrid workplace. Seems more likely they’re relying on bad heuristics because it’s hard to do much else?
I never got this explanation. In all teams I was so far, it was clear to everyone on what is individuals performance. It is just managers were pretending not to see, as it would involve them making hard decisions/work. My working theory that, in most medium to large companies most management people are not interested in success/financials of company as they are mostly salaried. Actual success of a project is secondary to fraternizing with the right people.