That's certainly not the full story. In many organizations, having a lot of knowledge about something that someone else is supposed to know more about is a good way to make them feel uncomfortable or in extreme cases dislike you.
From a practical vantage, knowing how to apply what knowledge you do have (and having the will to follow through) is a lot more valuable.
It doesn't help to have a broad and deep understanding of software development and business but be socially awkward and suffer from severe akrasia.