I hear you, a lot of engineers have been there. Things are changing though, roles are evolving and the org chart is starting to flatten.

A couple of things worth separating: strategic direction in most orgs is already handed down from the VP or exec level, the PM is usually executing on that mandate.

Now that coding agents exist, both the PM and the engineer end up prompting a coding agent. So, over time, the roles converge and product ownership just becomes part of building.