Everybody here is talking about "good" PMs... but OP seems to be talking about regular-average PMs. In that regard, regular-average PMs bring very little value

Everybody here is talking about "good" PMs... but OP seems to be talking about regular-average PMs. In that regard, regular-average PMs bring very little value in my experience, and sometimes they get better salaries than regular-average engineers. It's clear that "good" PMs bring value. Any "good" INSERT_ROLE_here brings value.