If everyone actually came together and decided that they are not worth paying what they are paid now the compensation would likely normalize to a few multiples of other roles.
But lot of compensation is just magic money out of air that is stock valuations so the stock holder just gives slice of what they think they made. So as long as they financialised system exist so will extreme compensations.
Since most of it is magic money, I'm not sure how much sense is there in evaluating them on it. I.e. if I were suddenly worth $1B, but 90% of that was in a mix of assets I can't do anything with, and some bullshit Wall Street fake money that, at this scale, disappears the moment you look at it, then the actual money I could use would be much, much less.
But lot of compensation is just magic money out of air that is stock valuations so the stock holder just gives slice of what they think they made. So as long as they financialised system exist so will extreme compensations.