Yes.

Managers are useful for decreasing the non-programming brain cycles that devs are spending every day.

Managers can re-prioritize based on feedback from marketing/sales/CEO, wrangle issue trackers, make sure devs are happy with what they're working on, screen new hires, talk to customers, and lots of other non-programming things that a software team must do.

A great manager clears away the "boring" or tedious obstacles that get between great devs and the next iteration of the product. They also set the tone for the team, motivate individual members, and keep things organized.