Literally every time I've moved up the chain in my career I have done less work. I have seen the same in peers who have surpassed me. I have no reason to believe this changes by the time you reach CEO level.
The bit where they bring in a pro CEO in Silicon Valley who spends most of his time messing around with his horse-breeding hobby instead of running the business is basically just a documentary. Like most of the rest of the show.
This is how CEOs often manage to "do so much". All kinds of charity involvement, "advisor" work on other businesses, sit on boards, et c, then blog about how they still find time for their family and/or staying fit despite being so "busy". It's not because they're super-humans working 100 hours a week with perfect time-management discipline, but because a lot of them don't really do jack-shit for any of their "jobs".
