You're right. Even when I was countering, I was thinking it. A CEO's direction impacts the behavior of tens of thousands of employees. Even if those behaviors only average earning the company an extra $10/mo per individual employee, that's already millions a year.

It's worth noting that the CEO's value is also embedded in the structure of the company. The hierarchy guarantees by definition that the CEO can have the biggest impact. If a company were more horizontal in its leadership and direction, then there would be less of a discrepancy in the amount of money different employees can earn the company with their ideas.