I think that's being a little extreme. I would guess that a CSO is typically somebody who has the experience, but has worked their way up. It is natural that as you progress in leadership in a company you become less knowledgeable about the details. A good executive is somebody who can hire the right people and listen to them. Somebody who has to know everything themselves is actually dangerous in my opinion - they are ignorant of what they don't know, could be unwilling to take advice, and may be inflexible about new ideas.
To clarify, I am not talking about a CSO at a 100 person startup. I am talking about somebody like the CSO of equifax or Boeing which should have hundreds of people reporting to them. They cannot possible know the specifics of everything they secure.