I think a lot depends on the school and/or the program. Personally, I find leadership an important quality. It may not be the only quality but it is a good one. For example, on a lot of sports team, the Captain is not just the top athlete on the team but the person that works the hardest and sets the example. They are also raised up by their peers. My wife is a Director in a software company. She never wanted that role but due to her EQ, her peers continue to push her up.
I think a lot of times people confuse a leader with a boss.