Look at any CEO who is doing a good job and you will see insane people who are getting low amounts of sleep, focused solely on the company growth to the exclusion of family time, and actually doing work. The work is comprised of tons of knowledge and skill sets.
Let’s take Elon Musk for example; disregarding whether the the company is well run or not. If you look at his work schedule, he is saying things like sleeping at the Tesla factory, working longer shifts, handling regulatory and politician issues, etc. The skill set required and time commitment is something that most people shy away from. Look at the horrified responses to Ma’s work dedication missives and you are on target where the normal person holds up. The insanes go to the political meeting on Capitol Hill, hire and fire subordinates, identify the direction of the company, and then execute on those decisions.
The skill set for the underpaid workers is easy to develop and put together. The dynamic life of a CEO is an item that is difficult as it operates in a dynamic environment that constantly changes and requires time and money investments that mean the employees who report to you may not have Christmas presents for their kids.