This is true in theory. In practice, most managers either do not understand what "performing well" for an engineer means, or willfully go against what they know to be true due to internal incentive structures. For example, favoring those whose contributions are more visible in the short-term, even if net negative over time. Through such a lens, someone who is competent at executing a longer term vision, or refuses to do only those tasks that are visible, is a low performer.

I don't say this to bash your statement, I agree with you in principle. Just useful to keep in mind that the context matters. Sometimes, the people complaining about having to compensate for the low performer, are the actual low performers.