Yes, and no one said that this kind of evaluation has produced long term success. It has widely been recognized that when upper management is more involved in evaluation rather than leading teams of managers themselves, they address issues and market conditions too late. Thus, affecting businesses negatively over and over.
https://hbr.org/2016/10/the-performance-management-revolutio...
In other words, managers are being asked to NOT perform to certain metrics/evals but to make choices that benefit the company - even if it falls outside any evaluation rubric.