Have you never been in a committee meeting?

The "E" in CEO is to listen to a room full of noncommittal, hedging, sycophantic people and then chart a course based on their weak signals.

Arguably the CEO needs all of the talent of a dart thrower; but they're the one that takes the stand, or fall, of the decisions made.

I agree they're replaceable. I don't agree that they're not needed. :)