They have no idea what's going on technically. But they know where the money is and the words that have to be spoken to certain people to get and defend that money. I have been handed a problem that was estimated to cost $6M and solved it with a text message, in the meeting. Shoulda taken the money. I have also had a project poached from me, watched the new team burn $35M and come out the other end with nothing but bruised egos.
The sponsors with the budget are definitely folks who prioritize politics over everything else. They have generally have bachelor's or master's degrees, rarely doctorates. You look at their career and wonder how they got there. Their goal is not mission success. Their goal is the next job. They've been dressing for the next job their whole career. The financial folks are afraid of them, or at least very wary.