In my company (which runs on Holacracy), we have a process for that rather than a person, with defined rules around how that happens and for what sizes of spend. It's not perfect, but it manages to provide firm rules that aren't in any single person's hands and which everyone has equal access to using. There are clear guidelines where clear guidelines are possible, and then process around determining what good judgment is for the areas where clear guidelines are tough.
I'm not defending "flat" (which Holacracy isn't), but there's a lot more nuance in the serious Teal/self-management community than the public debate in threads like this appears to know about.