Smart people are more susceptible to high impact biases though, which is maybe what you meant? Lower IQ people are experience this less?
I know lots of very intelligent people who seemingly can't apply that intelligence any time they have strong emotions about an outcome. We also know that children can be inculcated with difficulties distinguishing fiction from fact (1).
IMHO, as you mention, it's a spectrum, perhaps the equivalent of the Autistic spectrum for Emotional Reactivity Disorder. Though unlike autism or borderline personality disorder, I believe that it's a skill deficit rather than an inherent disorder of personality.
I also believe that more than half this country is suffering much more profoundly from it than we are aware.
(1) https://onlinelibrary.wiley.com/doi/full/10.1111/cogs.12138
I would, however, argue that there's lots of evidence that it is not evenly distributed.