Used to be true, but a lot of top managers in IT companies invented the technologies or came up through the ranks.
One of the best managers I ever had was a director who not only admitted he was wrong but came down to ground level to do it.
However, I’ve noted that when management gets into fads, it is because they have no clue about the direction of the company or their division. Where I am no, this is very clear, and we have not had to do one mission statement for as long as I’ve been here. Great relief. I actually accidentally introduced a fad at my old place. I got the best review and raise ever, since top management bought into it. But I observed how they didn’t really understand the subtleties of the concept, and immediately perverted it. So, I fell out of favor when I didn’t get behind their version of it.