I totally agree in general but usually early stage tech companies have decent boards. Usually because it is investors representing their interests. Also, in a nascent tech sector you usually have at least the appearance of strong reputation, like Theranos for example. That said, if we look at OpenAI like the non-profit it was founded to be, those are exactly as you describe, a fun way to boost reputation for rich people and dole out some cash to connections. Also, Sam and Greg were cut out of the board, they were likely the true boardroom know how.
