PMs are an invention of PHBs that sat in too many introductions to agile from management consulting firms.

Actual agile gets rid of them along with all the other cruft. PM as a title is fundamentally a jobs program for people who couldn’t hack it as programmers, or are nepo hires. You could argue a North Star like a product manager performs useful business alignment. But in 12 years across several companies I haven’t met a single project manager that is more than a professional problem manufacturer with selective hearing that miraculously ignores expert engineering opinion.