I totally agree, a superior who does not recognise his limitations and on top of that takes bad corrections from his employees in essence, is a bad boss.
However, going further, the idea is to make these corrections in the right way and at the right time. I agree with another comment here that it depends on the context.
Things that don't make much sense can be overlooked, things that are too technical have to be corrected, no matter the time and place, but always taking care of the manner.
In essence, a good boss will recognize these actions positively and will reward and encourage his employees to be like that.