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Going to go out on a limb here, but isn't one of the generally understood justifications for exec pay being so high is that the buck stops with them?
Not in recent US history, no
It’s one of the generally stated justifications. It’s only partly understood, mostly because a lot of us with eyes see execs have no consequences for their demands and seeing the shit roll down hill.

And I’m even willing to include the fake “X executive has decided to move on to newer and greater things and we wish him well” lie to save face for firing an executive as consequences. I’m referring to the straight up, we’re blaming a peon, my income stays the same or goes up no consequences

I mean, it's not like you actually believe that, do you?
Is it true in practice? No absolutely not of course not ridiculous that's not how power works. Should it be true? Yes, it should.