hard to say. probably the people who are high enough to make any change are too removed from the action to see the problems. maybe stories like this going viral will change things (companies do anything these days to avoid bad PR).
The only time stack ranking was a force for good was when the French applied it to their ruling elite in the 1790s.
See also how people had to get a "certificate of civism" lest them be considered suspect by default: https://en.wikipedia.org/wiki/Certificate_of_civism
In my experience at the VP level you have many highly skilled reports who are gunning for your job. Once you get the VP job then there may be many more enticing opportunities at other companies with just tough competition in the current position.