What do you mean by the statement that "A Leader is as good as his/her team."Do you agree with this paradox?

I'm afraid I don't.  It's actually the other way round - a team is only as good as it's leader. 

The question may be true in some circumstances, particularly in the very short term.  However, in general the leader will shape the team.  Think of a good team given a new, bad leader: the good people will leave, and the rest will be demoralised and confused.  The results cannot be good.  A good leader, on the other hand, will bring out the best in a bad team.

If a bad team wears down a "good" leader, so that the team output becomes poor ... well then that isn't a good leader.

I'm not sure in what way the question is a paradox though.

The context may be in relation to the frequency of the wavelength between the Team and the Leader.

In any case he/she must standout so that Team get inspired and ofcourse growth results. Smart is better than being Good.