Look around, something is happening with ruling class, elites. Each year they seems to be less and less adequate.
It is nothing new really, but it seems that process is quickly accelerating.

My thoughts about this issue is that we can see here natural selection at its best.

As system becomes more complex, as prize you get if you get to the top increases - you see game participants devoting all their time to get promotion, to be loved by their superiors, or at least to not be fired. Everyone knows about Peter principle (that states that competence at lower level of hierarchy does not equal to competence at upper level), but here we have much worse situation.

Complex selection and competition now warranty that you get fully incompetent people heading any big project. As now they are not selected due competence at all, they even do not have any time to get such thing.

Of course this people simulate intense work. Using meetings, presentations, interviews, PR and such. Monkeys are very good at simulating work, generally. Parliaments do same thing by voting for countless laws that they do not even read. :-)