Most ICs are pretty well insulated from this, because if they understood what went on at calibration a lot of good contributors would become pretty bitter.
I had a lot of managers and higher level ICs explain calibration and rage quit (although it was long overdue) after an unfairly low review. There were extreme politics happening at the time that the current ED laid out to me in an exit conversation, and most of it came into play. I should have made way more money off of my contributions than I did but didn't play politics, and honestly, given my role and position could not. I was a resource and not a player:)
Thank goodness ICs never see the top-level calibration with the executives. It's the most insane, ill-informed drive-by management I've ever experienced.
