Everything you said is true. And it still doesn't change the fact that most organizations [I've been in] utilize the top-down approach on 99% with the occasional 1% of bottom-up.

That's an unbalanced state of affairs that completely loses very valuable feedback everywhere along the chain.

Part of the job of a manager is to find this perfect balance on the level they are working at. And most don't. They just pass the pressure put on them, down below to their underlings.