2 million seems like a pittance for all she does.
Which is ?
Imho, it looks like her managerial skills are mainly dictated by her ego, and not by any professional standards, see Andre Leon Talley, Hamish, Carine, Edward, all the EIC of Vogue UK, France, Italy... Basically everytime she feels threatened on her trone, not only because of their declared or supposed ambitions, but probably also because their skills and talents.
Performance-wise, during her 37 year tenure, all the Vogue titles have continuously declined (in circulation, revenues and profits), none of her actions seem to have reversed or even slowed this decline, all of this resulting in financial losses and cash-burn, for decades. It seems also her only answer is cost-cutting, she offers no perpectives of growth for the company who employs her. In any other business, she would have been fired long time ago, see the number of CEOs (and CDs) of fashion companies being demoted for a fraction of her failure (Bizarri, Akeroyd, Michele, etc etc).
Ethically she is also extremely questionnable; among other things, for 30 years and counting, she enabled a lot of the industry's sex pests (Testino, Richardson, Weber etc), giving them jobs, exposure, the Vogue's seal of approval, very lucrative careers, and therefore A LOT of power and opportunities to predate, mostly on much younger and powerless models. In her defense, she pretends to have been ignorant, which is a fault in itself.
2,000,000 is 28 times the average salary in the US. Also don't be a fool, just like all the other EICs, she's consulting. Unofficially and under the table, like so many EICs.
Plus her extravagant demands, salary plus expenses plus gratuities plus Met Gala etc, have certainly eroded CN productions budgets, talent pool, and her colleagues (I reckon they weren't/aren't great with money) are paid literal peanuts compared to her, are extremely cash-traps, and rely on hand-outs from friends.
It was true with ALT, it is the exact same happening with HB right now.
She is purely egoistical, clinging on power like a Russian autocrat, at the expense of the company she is supposed to serve, of the people whose livelihoods depend on CN, of the industry she claimed to love, but which is merely a tool.
And moreover 2,000,000 is way too much for her half-bland half-vile eww taste: that's her who plagued the world with Demna, A. Wang, Hearst, Leibowitz, Rodarte etc....