One reason to pay geeks to manage geeks is that geeks know that punitive management techniques don't work on geeks!

Isn't that the truth? It is absolutely pointless attempting a top-down command structure with geeks, or engage in a punishment-threat method of discipling them. Without engagement on matters of technical veracity, they will simply go away and find a place where their skills are appreciated. And more power to those organisations which recognise this.