What I've seen lead to success:

* Arrogance

* Overconfidence

* Schmoozing with the right people

* Doing flashy work, whatever that means in a given situation

What I have seen lead to failure or, at best, being undervalued and ignored:

* Caring about teammates and your future self

* Caring about the end user and the business itself, when it conflicts with something sales, marketing, or a PM want

* Creating resilient, well-engineered systems

It's the same problem as anywhere else. Well-crafted systems are invisible and taken for granted. Saving the day by putting out a fire is applauded, even when you're the one who laid out the kindling and matches. Managers at all levels care about their own ego more than the company, product, or team.

Maybe I just spent too much time with ex-Microsoft hacks.

This can applied to a lot of sectors, look at the arts and culture for example

No, you are right