Those that could communicate on both side, with management/CEO and understand with experience the technical do very well financially. . you wrote: 'The problem is that the top people have to put control and faith into someone who does not have a prescribed talent and the bit of paper that goes with it' Absolutely, their are so many examples of over confident talkers ruining so many IT and software projects, Some of these projects are worth billions ,some millions that have resulted in nothing. Some projects productivity are staggering poor, but management know no better. . Often management do not have the knowledge or experience to make informed choice as who the hire, Sometime they fire who they hire and make the same mistakes..other times the dont even know just how bad the hires are. . Their are some great companies that do know what they are doing, often well established and profitable.
I only see this problem getting worse, not getting better.
Best thing is those that have the experience ,knowledge and acumen go and set their own business up.