I think this is untrue simply because smart people who are good at their job are very likeable in general. Who doesn't like the smart productive guy? Conversely, who can stand the dumb guy on the team who never does any work? Of course there are exceptions, but my experience is that the social structure among nerds is largely a meritocracy. Just don't be mean to people.
If this hasn't been your experience, I think you had some misfortune by ending up in companies where politics dominate. There are both. Look at upper management - are they technically smart, or charismatic? Whichever one they are is likely what will have propagated throughout the company. Also watch out for mediocrity, that propagates too.
Of course, I'm referring to technical jobs, not business in general. If it were MBA, I'd agree with you.