I don't know the right answer here, but there are thousands of public companies. If every CEO has to be a celebrity, meaning that everybody knows them and which company they are the CEO of, it's going to end up like for actors: tier one world superstars, tier two stars, then people you don't hear much about, then people you read their names sometimes in the closing credits, otherwise they are only random faces on screen.
If that's the case, the top layers of the system have space for so many CEOs. Some won't even care to be there, they'll just do their job and take the salary plus bonuses.
Sure. I'd say 99% of people in tech couldn't name the Twilio CEO. I don't think he's really a celebrity CEO, at least not in the way that's being implied about him (as in, I think "public" and "celebrity" are being conflated here).
Jobs certainly was a celebrity CEO, and despite all the criticism of him, I've never once heard anyone imply he was bad for Apple (or its shareholders). Musk is a celebrity CEO, much to the detriment (and potentially benefit? who knows) of his companies.
If that's the case, the top layers of the system have space for so many CEOs. Some won't even care to be there, they'll just do their job and take the salary plus bonuses.