People with outsized power should be held to higher--not absolute--standards. Not lower ones because they hold some purse strings.
This is not a real argument, just a sort of a public admission that you're a cheater and you rationalize it by saying everyone cheats.
I disagree with the original premise, and I don't care if a good CEO is incontinent sexually as long as he does not provide blackmail material (which Huang did) or do it on the job (which he did.) I think you can lie to your wife and not lie to your mom, and vice-versa. But many people have a moral foundation that is more important as a guide to their own behavior than as something they lord over other people. Not everybody is cheating.
Also, "everybody is doing something" is never an excuse.
Does any of your weaknesses or character flaws imply you should never be hired again? Or do you think you are the only human being ever to not have any flaws?
Some of the most popular people in history had deep flaws that did not tarnish their work. Einstein had an affair and later married his cousin while he was married to another woman. Should he have being ousted from any university because you think he would cheat everywhere else? Tesla was in love with a pigeon. Do you discount his work because of that?
Many profess to want a world where character, integrity and honesty still matter. Of course, only when it applies to others. “We judge ourselves by our intentions and others by their behaviour.” - Stephen Covey