Well, I can tell you based on my experience in startups going back to the early 1990s that it happens and it happens a lot. Particularly with VCs.
In fact, one of the reasons I'm pretty down on VCs (vs, say angels or syndicates) is their desire for "alpha male" types, their hiring of them, their funding of them, etc. They all think they are alpha males of course, and they act like it (which is often perceived, correctly, as being complete jerks) but they also respect it as well.
It is totally plausible to me, and I believe I've seen it happen, that the difference between being funded and not being funded was the perception that the lead of the company was an alpha male.
I none early experience, the CEO was brilliant technical guy but he was quiet and contemplative. You asked him a question and sometimes he'd think for 30 seconds before answering.
Once we were funded, after taking forever and putting us over the barrel, the VCs brought in an alpha male asshole who had not real people skills or business knowledge. They forced us to accept him as our new CEO. He's gone on to have quite a career doing nothing but being a personality type. You know the CEO who delegates everything because he knows nothing, for whom its hard to please because he can't tell the difference between good and bad and just demands more, etc. But at the same time somehow takes credit for everything.
The one who gaslights people, initiates charm offensives when he needs something, and when you accidentally show he was wrong, you become persona non grata.
You've never met this type?