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PricewaterhouseCoopers just got caught trying to pass AI slop as authentic research
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This was true of the United States of America in 1789, but still you need a leader. A leader like Buzz Lightyear, he's "always sure." Confidently pursuing a plausible, coherent path has value, even when it's not the optimal path - difficult to see, the future is, always in motion - direction by committee of "the best people" has its place, but so does decisive leadership.
No, what you need is something that can facilitate coordination and communication between many moving parts, inspire confidence in the team, create stability, and sell a vision to generate investment, and those functions do not necessarily all need to be one person. You do not "need" a leader, you want a leader because it's easier to conceptualize a relationship with a figurehead. Much like the rump English monarchy, the executive is a vestigial appendage and an artifact of of an aristocratic era of patronage. Locking in a coherent direction does not require a "decider", there are other ways to achieve that. By designing companies to minimize personal liability and accountability, they have also designed themselves out of a useful role.