^^ she wouldnt make a great editor but not because of how she styles. you said
"Just because you style in "only" one way doesn't mean you'll run a magazine that way as well"
but it's actually much more simple than that: just because you style, that doesnt mean you'll run a magazine.
vogue is a very big business! it's a publishing beacon not just for fashion, and the publishing business is going through its toughest moment ever!
vogue, the nyt, the guardian, le monde, time magazine... you name it! all of them are seeing their business model change for the first time in the last 200 years (ads=$=goodjournalism=printingpages=sellingcopies=ads=... ad eternum)
Leaders are defined by the circumstances around them. Carine has been a good leader in the past decade, and they just shouldnt put someone like her to run the magazine now like they did 10 years ago, because what the magazine needs now is different.
I'm not saying Emmanuelle CAN'T do a good job, but if she is up for it, then it's plain gambling for Conde Nast. Things can go right, or they can go completely wrong, and as I said a few pages back, there's a thick stack of other titles in the newsstand, waiting for their moment to claim they are the Paris' (the fashion capital's) best selling title. a moment of weakness chez vogue, and they will sure take advantage of it.
It's not only about capitalist crap like "money talks money talks money talks" (though it is too), it's basic organizational theory, it's managing people down to its essence.
And before you jump at it, I know there is a publisher, and I know what its job is and what he does to put together the issues and work out the numbers, but as the "face" of the magazine, and the person who has a saying in all content, the medium, et al the editor in chief should know a thing or two more than putting clothes together.