This is what you get when the MBAs are in charge. They just go with P&L, Spreadsheets, etc. and care only about the current quarter and meeting the goals.
Wait, but Sundar Pichai was there pre google IPO as a Chrome PM, and Neal Mohan was there for 18 years. How are they examples of "doing your time" being a bad strategy?
Not really, in such large companies there's enormous selection pressure favoring career politicians. Maybe some of the survivors did some engineering at one point, but expertise fades fast when you stop getting your hands dirty. Most are empty suits.