[AndrewThrowaway]

Looks like some kind of a gatekeeping ritual to rationalize why upper management salaries are in millions. I think we can also see in other industries too.

You hire hundreds of interns and entry level workers to let them fight in the bloodbath for 100h a week. Pay peanuts. Let them do all the work.

The ones who survive get a bit bigger salaries. Those who still persist in upper level bloodbaths are upgraded into millionaires. And paying them millions looks acceptable as it is so hard to reach the top.

While you clearly could share all those millions between entry level and paid internships, don't have 100h weeks and have a healthy industry.