Did you sign up for the right friends and family plan? This is common to many companies which is why they don't perform well as companies.
What was unique to Cisco was every program that should have been named after the Titanic rewarded those that ran the ship into the iceberg and squashed those brought in at sea to get the ship on its way for making the original team look bad. Better upper management would have knocked out the sc--w ups rather than promote them.
Personally if you want advancement in real skills where more money and titles are the side effects go to well run smaller companies where you can take on far more responsibility. Part of being run well is management knowing how to get the best out of you.