The general counter-point is, why would you want someone who doesn't understand the work done by the company to run that company.

Besides that, the polarization between management and 'the work floor' naturally leads the work floor to see someone who studied 'management' as the epitome of management, and thus as the epitome of 'the enemy'. Personally I believe the work-floor is right to be skeptical of the management style that is commonly taught. Because the style is not based on treating employees as humans but instead about extracting a much value from these human resources as possible.