Yes, you've described why large corporations are hated. It's quite obvious that a handful of numbers are incapable of measuring a person's true impact, yet by god, they insist on trying.
They're also insisted upon by courts to adjudicate wrongful termination cases as well as discrimination cases.
My elite 10 person team was doing a great job on Device A, while Device B had a team of 200 semi-skilled foreign contractors just barely keeping things on track. Then, somehow, the company decided to reorg my super-skilled team and promoted the leader of the contractor team.
From 3-4 levels up in the company, the Device A team and the Device B team were IDENTICAL. They were both delivering things on time and under budget, even though team A was costing the company 1/5th as much, they were both fine. These products were generating hundreds of millions of dollars or maybe even billions in revenue per year, so the difference $5 million/year and $25 million was irrelevant.
If I'd realized this sooner, I wouldn't have put so much effort into doing a great job at the expense of my own interests, and it would've been just fine