The job of people around the CEO is primarily to make decisions. All this huge chain of managers is needed only to aggregate information so that the CEO can make an informed decision. This is how many large companies operate. I would even say that there is a direct correlation between the size of the campaign and the number of monitors at the bottom.
The flip side of sitting behind a huge monitor is that you won't stay outside with a huge number of your employees if you make the wrong decision. It's just a different job.
Well, I can only write from my own experience. I've worked for several major campaigns in my life. In banks, in telecom operators. And it's almost always been like this. And where there was none, the campaign collapsed. Not in a moment, of course, because campaigns, like people, do not die instantly, but age and degrade. But as a result, it was.