Even in the cases where the CEOs keep their jobs they still accept the responsibility of high level failures and are tasked with fixing them.
Seems like pretty high job security if the options are do well and get paid lots, or do poorly and get paid lots to fix your own failures. I'm not sure I'd call that responsibility, I think that's more like being able to do whatever you like and still not get fired.
Nintendo bosses are some of the few I've seen taking personal responsibility for the failures of the company. Andrew Wilson, Bobby Kotick, Strauss Zelnick, Todd Howard and such are happy to voice how seriously they take their responsibility, but they certainly seem to make sure that someone else pays the price. Words don't necessarily match up with actions, and you can say that you're taking responsibility until you're blue in the face, but it doesn't necessarily make it so.
On the other hand, when people lose their jobs as the result of a failed game, that's very directly them being forced to accept responsibility. Which may in some cases be entirely appropriate, but in general I'd say that your risk of being forced to accept consequences is far higher as a random dev than as a CEO. Absolute worst case, a CEO "resigns" with a favourable deal in order to not subject to company to legal exposure. They're hardly at risk of losing their house, or being unable to take care of their family because they don't have a job for a while. Meanwhile, the devs at the coal face probably don't have million dollar salaries to hoard and invest, and losing their income is potentially very, very damaging.
CEOs and the like can be responsible for a lot of how a company performs. Unfortunately, in the current economic system (and this doesn't just apply to games but to all industries) it seems pretty uncommon for even bad CEOs to face consequences that would actually impact them in a meaningful way. Numbers are just numbers, and losing a million dollars can sound like a lot to most of us, but if you're earning $30+ million a year I assure you that it's not worth losing sleep over.