This is where the "make it happen" corporate attitude gets people. If you have unrealistic expectations at the top, and fire anyone that can't achieve them, you're only going to get yesmen and grifters in middle management who's only real skill is in deflecting blame, then failing upwards when it inevitably comes crashing down.
Absolutely. I am quite sure there were people in that boardroom secretly saying WTF when they heard plans for this. Yes, on paper it sounds great but practically it didn't. Some must have known that but didn't feel safe to say so out loud.