The question isn't really whether the CEO provides more than 1000x the value of the average worker, though, it more like how much value does he provide compared to someone else in the same position, and how much does skill matter. If I offered a successful senior manager with an MBA, say, $500K to take the CEO role, would he statistically do worse than a CEO I hire from outside at $10M? With such a wide disparity in compensation, it sure feels a lot more like a club than any kind of meritocracy.