As somebody who has some experience in the small business industry, it really feels like just a case of retarded people making awful hiring decisions.
Vtuber management is basically an HR job, with a strong dash of impromptu psychotherapy and emotional support thrown in. You're dealing with what are quite likely fairly introverted women who project and act through an avatar because they dislike the idea of doing so in real life. There's a lot of retarded unwritten rules to follow and no strong, established guidebook on how to do anything yet. To be a decent manager you're going to have to wear a lot of different hats, and take a special pleasure in not only herding cats, but offering the cats counselling and psychological support after herding them.
How the fuck do you get a decent manager with those kinds of skills? I'm sorry, but while I don't own a vagina, I do know a registered owner who worked a whole hell of a long time in a female-dominated industry, and she's entirely candid about how much of a high-stress environment it was.
Vtube corpos have the issue of being a niche within a niche. There's probably not a single 'professional vtuber manager' in book terms on the entire planet yet. We're still in the first generation, witnessing the pioneers of an entire medium and business structure at work. I wouldn't deal with that if you offered me a three-figure salary and stock options.