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In my job, my clients are usually executives or VPs. They do dumb shit like this all the time. A lot of these people get to these levels of leadership for reasons that have very little to do with their competence, and they have big egos and don't listen to anyone, even when you put lots of evidence in front of them that their ideas are fucking stupid.
This right here. Steve Jobs is literally dead because of this. He rode this to the grave. He had a very very treatable form of cancer, but literally believed he could formulate his own cure using fruit juice, until he really started dying and it was too late to cure.
And he was 100x the CEO musk is. Still an absolute narcissistic and psychopathic monster, and literal crime boss, but y'know,
Anyone who thinks that capitalism is a meritocracy has never interacted directly with a member of the capitalist class.