Should your boss always be better than you?

Should you boss always be better than you in your area of work? Is that the most important reason for which you will respect him/her?

I always felt disadvantaged as most of my bosses were more skilled than me. I did not have a great relationship or liking for some of my bosses. But, being a sales guy for a significant part of my career I have to admit that most of my bosses were damn good with customers. Once, my team member said he didn't want to take his boss to sales meetings.

His explanation: The boss was not making any difference to the meeting but was insisting he should be taken to client calls. Sales contexts are unique, your bosses can get found out if they cant convince a customer.

The best part is that the action happens in your presence. I used to take my bosses to the toughest customers for some sadistic kicks. But, guess what! my bosses used to make a mark there too. My rationalisation! Hierarchy matters and the customer listens more with bosses :)

If you are in Technology or any other Industry would your expectation be any different? You expect your boss to be more knowledgeable than you in various technologies?  Are bosses expected to be Gurus who know everything or facilitators who bring the best out of you?