Earlier quoted context omitted.
I'm very sympathetic to this standpoint, but an obvious retort is why don't the engineers become their own boss and do better? What's stopping them?
Engineering and running a company are very different skill sets. Engineers are often not good at Marketing, networking, sales, ... Even if you are good at those, for many companies, it's more about connections than about the ability to build stuff. So if you don't know the right people, it is very difficult to get a foothold.
Accept that there are other skills besides engineering, and they can be just as challenging to learn, and just as opaque from the outside of you don't understand it.