In startups this phenomenon takes the form of hires, board members, or advisors with all the right names in their CV (Stanford, Google, etc.) brought in to pump up the company’s prestige points in the eyes of potential investors.
Nepotism is raging, notably within academia settings particularly for "nepotism babies".
Even University of Texas exempt anti-nepotism for many positions.
https://independentprobe.com/2022/11/21/nepotism-and-undue-p...
Growing universities with colleges that want endowments, faculty whose families are deeply entrenched in related institutions or culture, and generally prestigious and well-connected people are all necessary and make for perfectly valid candidates.
Academics isn't all academics. You need people who can grow and sustain development, attract desirable talent, work at the state and local level, and pull in students. People have to manage the internal administrative duties and external involvement of each school. Plus, some people make excellent teachers and leaders but awful researchers, and vice versa. Others are mediocre but consistent, don't have higher prospects, and take on administrative burdens. There's no real "ideal professor" any more than there's any ideal human.
I watched this 8-part documentary where kids get invited to a special school to learn magic.