And I would argue that what you are describing is why we end up in a system where the people who are talented and have in depth knowledge end up in "dumber ~ managerial" roles and we end up losing real talent and knowledge because of the incentives you explicitly describe.
If only the world incentivized ICs with depth of knowledge to stay in those roles for the long haul instead of chopping off our knowledge of specificity at the apex of their depth of knowledge. So many managers have no talent, no depth of knowledge and a passable ability to manage people.
Many ICs have no talent or depth of knowledge, I don’t think thats a criticism unique to managers.