As someone from a country that is endowed with several natural resources but still underdeveloped with high level of poverty among greater percentage of it's population I tend to agree with your assertions as they are nothing but the truth as it is in all underdeveloped countries. There's a high level of lack of independence of the institutions of government in these countries therefore creating a situation of weak institutions with strong corrupt individuals. Leadership plays a critical role in a country's development and not just about resource availability.
This is a bit about the people and the historical culture as well. Rioting, and finding the right person, became a thing in many nations that developed and became better. What did those nations do? They revolted against their kings back in the day, even killing their kings, and putting someone in charge who will do better, and if that person didn't do better, they took that one down, until they find one that did alright.
Look at Mary Antoinette and Napoleon, they got rid of one, put another in charge ,and when he was bad, they took him down and sent him to some island too. Basically, most underdeveloped nations, saw their leaders as gods, and even if they somehow did take them down, which is rare, they just put another almighty leader in charge. And never someone who will do better.