I know of one, Wally Fagen. A brilliant mechanical engineer who worked at KSC on the Space Shuttle. I remember him getting an award for perfect attendance.

Attendance is an indication of effectiveness. If you can't be counted on the produce product when planned, you will adversely impact the team's performance. Attendance is no longer a Monday through Friday 9-5 thing but attending the meetings that you need to attend and producing your products on time is very important.

The meaning of attendance has changed.

In the story you don't seem to understand the ways in which managers contribute to the company bottom line. Often, they do not produce product directly and also their contributions are in improved team performance and cost avoidance. They do the hiring, training, coaching, cheerleading, counseling, correct negative behaviors, planning, accounting, promoting, firing. Do you understand how that contributes to the bottom line?