All that does is raise the ceiling slightly. The number of specialists with compelling skills earning much more than typical ICs is dwarfed by the number of senior directors, VPs and C-suites earning as much or more as the specialist can.

Sure, but there is nothing wrong with that.

Most developers, say, do not have any career path that ends them up in the C-suite, so holding that up as a comparison isn't very useful.

If you finish out your career as a middle manager or a technical specialist, it looks much more similar. It's a path to consider for many people, but realize there are far fewer opportunities (and less lateral mobility).