I have zero disagreement here. I have a similar reaction when someplace tries to attract me to the "challenge". Finding hard, interesting work is EASY - I'm looking for interesting work (often but not always hard) that also pays well. ...and it'd be nice to be able to tell people who I work for and what I do without feeling defensive.

Nothing wrong with believing in the product or the company, but there is something wrong with thinking that would be enough. I don't think the entitled executive syndrome you're discussing is really the norm for companies, but yeah, I've encountered it and it's annoying.