Well you just said something completely different. I would never work for someone who had no ability to describe my job or understand the basics of what I do. But that's a lot different than saying you would never work for someone who knows less than you.
I need my boss to understand the basics of software development so that he can understand the challenges I face, evaluate the work I produce, and set up practices and structures that are conducive to good software development. But I don't need my boss to be better at actually developing the software than me. Why would I? That's my job, not his.
Similarly, as an OC I would never go work for a head coach who knew nothing about football. But I wouldn't have a problem going to work for a head coach who wasn't as good as me at running an offense. In fact, I might even prefer it, so long as he recognizes that running the offense is my job and being a CEO-style head coach is his job. As an O-line coach, I wouldn't have a problem working for an OC who knew less about coaching O-line specifically than I do. And so on.
Success in any field is a team effort, and each person in the team plays different roles. Requiring a boss to know as much or more than all of his subordinates about their roles despite his role serving a different purpose seems short-sighted.