Nah, fukk outta here lol. This is actually fundamentally basically ignorant, and literally takes into account NO other factors. If you think only 2% of people are putting in enough hard work to succeed I don’t know what to say to you.
Why is this concept so hard for people to grasp? In general people like stability and security. Working hard as a worker is different than working hard to be an owner/boss. Are there other factors? ABSOLUTELY... What that doesn't change is: Given all the opportunity in the world most people would still squander it (myself likely included) because people tend to lack the drive to really push themselves to be successful.
Most people view "work" as 40 hours a week and collect paycheck and go home. Not willing to deal with work issues 24/7 or be responsible for for handling problems when others aren't available. Just because executives aren't doing "physical" work that doesn't mean they don't work hard. They also face a lot of stress, scrutiny and pressure that an entry level employee doesn't have to deal with.
I thought iggy actually used a pretty good explanation of how most people never find their passion and/or don't exhibit the perseverance needed to reach the top. People always focus on the "other factors" which while valid, leads to ignoring the biggest factor of intrinsic motivation.