My father used to captain ships, and once explained to me that if the ship runs aground, it doesn't matter that the captain was asleep in his bunk at the time. He was responsible and would be court martialled for it. That meant he made damn sure his XO standing the night watch was competent and sober.

It doesn't matter if you didn't do anything. You should have done something. That's the job. You're responsible.

Yearly pay for an O-6 is between $87,984 and $155,754, by the way: https://www.federalpay.org/military/coast-guard/captain