The frequent end result of a virtual reality-oriented management style is a completely two-tiered corporate reality.
On one level is literal, direct, experiential reality. It doesn’t really count for all that much, because it doesn’t go much of anywhere.
On a much higher level is virtual reality, which is presented upward in the organizational food chain, and which provides the basis for important, high-level decisions and actions. It is prized.
In such an environment, the most important thing that anyone produces is perceptions. It is the perception that one is working efficiently, on top of things, achieving results, and so forth that counts.
In other words, to the extent that there is meritocracy, it is of a virtual-reality sort.