[legerdemain]

In my direct experience, this seems to work quite well for two kinds of companies.

One is software consulting where the clients are so big that project timelines easily stretch beyond the typical lifespan of a business executive. No one important notices that the project has started dragging before the person who initiated the contract has claimed credit and gotten promoted for it.

The second one is cryptocurrency/web3. I overhear from my network that what matters most there is the pedigree of their workforce and the background of the founders. Once funding is secured, it looks like project outcomes start to matter less, and the startup can afford to churn through engineers when they quit due to project dysfunction and unfortunate architecture choices.