I really hate it when these companies adopt these terms disingenuously.
I think this excerpt I found on google explains it better than I can.
There is a huge difference between a ruler and a leader. A ruler is someone who gives orders but a leader is someone who stands by his fellows and bears the difficulties with them. He is someone who actually guides his followers on how to accomplish a certain task. That's the difference between a ruler and a leader.
Cuz my “leaders” act like the former rather than the latter. They aren't leading shit, just sitting in an office listening to music and drinking coffee while everyone else busts their ass, instead of working with the rest of us. As a matter of fact, their presence is a net negative. They just get in the way while we are trying to work, without doing any work themselves. Pointless meetings, etc, asking us to do tasks we are already on top of like a parent asking us to do the dishes.
Now I've had great bosses that act like true leaders, leading by example and doing the work with us. These people are generally workers who got promoted from inside the company, so they actually understand how everything works. Recruiters these days for some reason just hire clueless people from outside.