Yes, it's that last scenario that I particularly have in mind. PMs are typically led to believe that they should acquire some technical understanding and furthe

Yes, it's that last scenario that I particularly have in mind. PMs are typically led to believe that they should acquire some technical understanding and furthermore that they will be better respected if they do. This leads, as you say, to poorly designed solutions. I'm not personally convinced that requirements-gathering is an inappropriate activity for an IC engineer.