I don't think it actually demonstrates this. As your wording hints, the hard part of writing is getting yourself out of the slush pile and into an editor and publisher's hands, and Stephen King's actions relied on his existing relationship with said editor and publisher to publish under a different name. He never demonstrated pulling the feat of escaping the slush pile again.
In modern content creation, the similar metric is getting to, say, 1k views, or even as prosaically simple as being part of the 50% of streamers to get 1 view. It's not sufficient to have talent to get to even that level of success; there is a lot of luck necessary to get you there.