Absolutely. A lot of sales-heavy companies have thousands of vice presidents, because if you're getting approached by a 'sales employee from XYZ investment bank' you hang up, if you get approached by 'the' (really 'a') vice president of sales from XYZ investment bank, you're more inclined to consider the sale.

There's entire industries where you start out of college around age 22, get an entry function for 3 years, a follow-up function for 3 years, and then become vice president by 30, and stay there for life, become a partner or change careers. The amount of VCs is ridiculous and totally lost its meaning.