I STRONGLY disagree.
My experience is that programmers who become "architects" and are only responsible for design and code review tend to go downhill in their skills. It SEEMS like an efficient way to use experienced people, but it is actually an anti-pattern. Their tendency is to develop ideas that sound good but don't work well in practice, and there is no direct way to correct the mistake. (Any time it doesn't work, the tendency is to blame the implementer. And there is usually enough to blame that their own contribution to the problem gets missed. You're less likely to miss the problem when YOU are trying to make the implementation work.)
In fact the problem is sufficiently bad that in interviews it is important to have people actually write code to show that they still can. When you get an "architect" who takes offense at the exercise, that's a non-hire. They might have been good 10 years ago, but they aren't worth hiring now.
This was something I'd sort of noticed, but didn't become conscious of until I worked at Google. There they were very conscious of the phenomena. Every programmer from the most junior to the most senior (for the record that would be Jeff Dean) writes code. If you're not willing to write code, you're not a hire.
That said, the exercise goes both ways. If I interview with an employer and I discover that they design things up front as UML diagrams, odds are that this won't be a workplace that I want much to do with. If I'm working in a job and they force me into an abstract architecture role like you describe, I'm going to quit and find a better job.