Feel free to enlighten me. There are tons of stories out there...but they work because the author is holding all the cards. The characters work the way the author says they are going to work, and so the plot always turns out the way the author wants.
Yes, that is a description of the fiction writing process. Also, not relally what we're talking about here.
With dnd its a bit different. As everyone has some creative license in the story, and because players generally like to win, they are going to do things that help them do that. Also, PCs don't really get "tired" in a sane mortal way, which causes a lot of narrative dissonance. While a story character would be bored to tears doing the same thing for 5 minutes straight, a PC cleric will gladly cast guidance every minute of every day if it eeks them out some extra benefits....or until the DM tells them to stop because its silly
And, again, not really relevant to why I brought up the Superman / Lex Luthor example.
As a DM, you hold the cards before you hand them to the players. You make the world that they explore. You set the game into motion and they move it forward. Even when you work with them to create some core story, themes, and even NPCs ... you're still providing the majority of the framework.
When running a high level game, you use that framework differently than low level games. You have different limitations as a DM because players have more power, but you also have many advantages the low level DM does not.
For example, players that 'earn' their way through the low and medium levels with their PCs should have some attachments to the world in which they exist. That can provide motivation for the PCs, but it can also be used to frame story and provide more boundaries to help create story.
For example, a high level PC may have no concern with charging into a deadly battle as they know they're the toughest. But what if fighting that battle puts the people of their home town - the people they swore to protect - at risk. You might be able to tell that same storyline at low levels ... but it can have a lot more depth when you've actually had storylines that revolve around that twon and the PCs are invested from an experiential perspective rather than just from lines of backstory.
So why did I bring up Lex Luthor and Superman as an example of how to run a high level game? It is because the authors present a
reason why the rich, white charismatic guy losing to Superman is more problematic than him winning. They weave it into their story. Sometimes, as the critics have noted, those explanations can be weak and can make for a bad story. But, sometimes they're good and create compelling stories. It may not be your cup of tea, but they've been telling these stories with Lex and Superman for over 80 years, so it appeals to some people... and unlike D&D which you can appreciate as a strategy game even if the story sucks, comics is really going to live and die on the quality of story.