Really I have seen this attitude recently in a FTSE 100 company and I am sure it was a factor in some of the many multi million pound fuckups they had.
It's a huge factor in the UK's tradition of multi-million pound fuckups.
There's a definite bias against people, especially clever people, who get stuff done. You're not supposed to do that here - you're supposed to get on by knowing the right people, talking a good game, and being above it all because of your social connections and money.
Actual hands-on development work is for the little people.
Occasionally one needs to say important-sounding things in public and hustle a little. But that's as practical as it gets.
The irony is that the UK has world-class engineering talent, and a long history of real innovation. But the UK is the only country to have had - for example - its own working satellite launch platform, and thrown it away to save money.
We genuinely have some of the worst political and business "leadership" in the developed world.