WWHTBT serves the amazing function of simply separating the signals from the noise. One would hope that all members of a company would understand the signals and devise meaningful ways to monitor and mitigate the risks they portend.
Too often, boards and corporate leadership give lip service to management of named risks as theoretical things without the in situ grounding in reality that they demand to manage with perspective. Disaster Recovery, for example, doesn't always require Active-Active data center configuration, but what that actually means should be understood from the practical view of what would be critically needed to recover and restore, and avoid customer and company harm. The fact that this is more often a board level focus rather than a daily operational focus says something of the ritual this has become.