[This is a simply the "Peter Principle" in action. The CEO is so detached from the product as to be incapable of directly influencing it. He will be safe but many heads below him will roll.]
You mean Dilbert principle. Peter principle is where competent folks are promoted beyond their level of competence.
It's pretty clear that the CEO understands that he is "making" a lot of money......and Wally, nobody has any idea what he is up to = the Zen of Wally....
This is a simply the "Peter Principle" in action. The CEO is so detached from the product as to be incapable of directly influencing it. He will be safe but many heads below him will roll.