This is fine and everything, but it's bad self-promotion. If you want your bosses to give you a raise, you need them to think that you have a unique, difficult-to-acquire skillset and that it's worth going to lengths to keep you happy.
Unfortunately, modest behavior rarely results in recognition. Bombast is a very effective tool, and at some level, you always have to compete against someone.
The dilemma re-emerges as one asks himself whether it is right to sit by and allow the dangerously incompetent to ascend based on mind games.
My answer used to be "Yeah, I'll just go to a place where that doesn't happen". I no longer believe such places exist.
Having a lab and doing experimental stuff is great, but choosing to stake your company's products on it should be a much weightier consideration. In practice, we see that this weight is apparently not felt by many.