As an MBA, I can confirm. We might not necessarily do it well, but we can do it:D
As long as share price goes up while you are there does anything else really matter?
But that brings up important point, is this complaint about execs in any way specific to games industry? It is very common across businesses that execs haven't actually done grassroots work in their companies field?
The best boss I ever had was a MBA who know nothing about engineering - he didn't try to micromanage us. However there are a lot of MBAs who are bad bosses.