(I understand that this question may be discussed in a pretty wide sense. However I want to focus on its relevance to PM / PM teams).
Imagine a PM who does not seem to be qualified in several regards, fails to be exact on meetings and dates, provides poor communication, but nevertheless for some reason was raised to that position. Even worse, the PM himself seems to be very convinced of his work and self-confident.
The consequences are not to severe, but nevertheless the project team suffers under those weaknesses.
Do you think it is the team members responsibility to continuously silently correct PMs weaknesses? Bring it to his attention (risking that he may be either insulted or just give it a shrug)? Or just give it a shrug as well, similar to what the PM himself is doing?