Microsoft would be in trouble. The only problem is you can't afford to hire a platoon of six figure executives. Bill Gates is safe and you're stuck plodding along. Today's hi-tech companies are moving from inception to nine figure revenue streams in less time than it takes Hollywood to make one feature length film. This need not be the case.
Committees play very important roles for organizations of all sizes.
This is also true of advisory boards or committees. Like everything in life, you tend to get what you pay for. Advisory boards are no different. Members can agree to serve for free or they can charge hourly fees. An advisory board isn't measured by cost but by results.