Most times founders do have very good intuition because they are building product for themselves first and the various complexities may not be important earlier in the cycle. However if you are going in the new field and well past "early days" then having product managers with
field experience could be very useful. For example, you want to build new glucose meter and you know the tech but have no idea about regulations, customer preferences, competition, history of dead products etc. In addition to what has been described in article, I would say followings are also responsibilities of product manager:
* Design meticulous user studies, evaluate prototypes with customers, identify problems earlier.
* Research options for external interfaces for the company including supply chains, offshore options, vendors, partners.
* Do analysis of competition, their strengths and weaknesses. Estimate their future trajectory, influences, cost structure, customer opinions and actions.
* Perform retrospectives for successes and failures that happens within the company. Create systematic log of these analysis and ensure failures don't repeat but successes do.
* Make sure there exist systems for various data collections including human resources, engineering (bugs, backlog, hours spent, LOCs), customer support etc. Help turn these data in to dashboards. Lead analytics and insights in all aspects.
* Take a detailed look at the history of the field. Why past product failed? Why some won in competition and some lost? What customers rejected? How laws changed destiny of products? Lead the "lessons learned" storyteller role.
* Create systematic database of who's who in the field. Everyone from previous founders, star engineers, politicians, activists, biggest fans, partners etc.
* Ensure there exist efficient measurable pipeline for lead generation to customer acquisition to customer exit interviews. Influence strategies for sales, marketing, evangelization. Ensure company can preemptively avoid or at very least detect churn much earlier.
As you can see, founder alone may not be able to do all of these + product design + engineering efficiently and comprehensively. I would also say good product managers are never just product managers but also able to take over partly or completely sales and/or marketing. Also many good product managers are not generic MBA types but rather very specialized in specific field with solid design skills and experience in their field. The way I look at it is founders provides intuitions while product manager brings data and systematic analysis.