This fallacy is so common, but so obviously illogical. By definition, "leadership" roles require a larger number of "followers". Corporate structures are inevitably pyramid shaped, with a tiny number of executives at the top and then more middle managers below and still more ICs at the base.
But unless you're in a country with exponential population growth happening, that structure clearly doesn't represent the populace. There are going to be way more older workers than there are spots at the top of the pyramid.
As a society, we really need to embrace reality and stop pretending like the 5% of people in the upper ranks succeeded and the other 95% of people failed, if they don't rise to the top and then stay there for the rest of their career.