That's because it's uncorrelated, not high bar. Until recently, the manager giving you EE and SEE is totally different from and actively distrusted by the promo committees.
And on top of that, the criteria are different. Working a little faster than your peers is EE, and is rewarded with raise and extra bonus, but that's different from performing in a higher level role with qualitatively different expectations.
And on top of that, the criteria are different. Working a little faster than your peers is EE, and is rewarded with raise and extra bonus, but that's different from performing in a higher level role with qualitatively different expectations.