It is like everything else, some are good, some are not so good. A great CEO can do wonders for a company. The money they make with bonuses seems outrageous but in the long run it is all worth it. On the other hand CEO's look at their position as a right of entitlement. Grab as much as you can whenever you can because you deserved it for all those years of hard work. (old boys school thinking, Canadian banks etc.) Most have evolved into the position by playing the game right which is usually all wrong for sharholders.
Again I will dissagree and ask where you got this information about what CEO's see as their "right"? How many CEO's are brought up through the ranks and how many are brought in from elsewhere? The public gets to hear about the outragous pay packages and things from a tiny % of CEO's. You dont hear from the guys who do a good job and get paid big bucks for quietly doing a good job.
The bottom line is that you are paid what is thought to be your perceived value at the time. Get over it.