There is no end to the people who think they are going to fake it until they make it to the point they can hire people beneath them that actually know what they are doing. Because of how group dynamics and social calculus works, they are able to ride a business all the way down to bankruptcy and then do the same thing somewhere else. Why the hell does anyone want to be a software engineer in an environment like that.
What's worse is these people think that software engineers must work for them because engineers are desperate, stupid, and inferior while they themselves are smart and superior for their proclivity to exploit people and organize.