Power and intelligence are not completely unrelated. Are government officials, politicians, CEOs, judges, etc, usually above average intelligence? Probably. Do the institutions they work within make intelligent decisions? Sometimes.

The fallacy is assuming intelligence automatically equates to power and influence. University professors and doctors have very little power in their institutions even though they may often be more intelligent than their bosses.

A worse fallacy is assuming intelligence creates better political outcomes (in the broad sense of politics as contested collective decision-making).

I don't know many people who would willingly trade their freedom to make a bad decision for the enforcement of the "right" decision by a superior intelligence.