It awards people for being something that they cannot possibly be: worth hundreds of millions of dollars per year in compensation. Human excellence hasn't reached the point where this is the case.
Either way, two entities came to a voluntary agreement on an exchange of services and compensation. I have not heard of a better model yet.
If the issue is income/wealth gaps in society, then that is better solved by implementing huge marginal income/wealth taxes such that the can be rewarded hundreds of millions of dollars, but they will only end up with a small portion of it.