Peter's Principle for Employees

I've seen this happen in real life. I mean you get to a point where your manager, o your managers manager, believes that they can go out to market and find a more qualified, more productive hire for the same price. And so as an employee, what this means is you have to be thoughtful about the speed of your growth. It's something that managers and builders should be actively thinking about on anything they're building. So i want to put it to you. Do you buy this concept of being promoted to the point of incompetence? Or do you think it's an incorrect view of how companies work? Have you ever experienced peter's principle? First hand as a manager or