They first came into prominence during WW2, when native tribes would observe food and other goods literally dropping from the sky for no apparent reason. See https://en.wikipedia.org/wiki/Cargo_cult#Pacific_cults_of_Wo...
Anything far beyond the basics of value, product market fit, making something that costs less than you can sell it for, etc. is a bit suspect, especially if it starts to wax hyperbolic about ephemeral character traits and other wooey things.
Anyone following those CEOs would probably be in a cult, though :P
The term implies mimicking behaviors in vain hope of achieving the same results as those being mimicked. In this case, that'd be less sleep more multitasking more conspicuous effort.