Be glad that you've never been in the corporate world at a level to watch the incompetent sychophants rise despite clear reasoning why they should be let go (much less 'not promoted.')
I've seen mid-level executives receive promotions for 'not being in the red' because for the three years they ran a division they re-org'd every year because the years you perform a re-org your numbers were given HUGE discrepancy allowances. One guy lost more than 10 million (on a budget of 7 million) a year for 3 years in a row and was promoted - through this trick.
Worse, I've known people who were CTOs of actual Silicon Valley tech companies (not huge ones, but worth a couple of hundred millions dollars) who DID NOT KNOW WHAT TCP/IP WAS OR WHAT A SOCKET WAS. Not CIOs, or CISO - CTO. It's okay though, he looked the part, and he said yes all the time.
Crazy man. Crazy.