The brutal reality is that a single individual contributor cannot, and should not, contribute as much value as a team of people.

I strongly believe in technical tracks and I've seen them work. Every place I've worked had technical positions that are peers to managers, at every level. They worked alongside managers, and did not report to them.

Progression on both managerial and technical tracks requires skills in leadership. Whether that is people leadership or effective technical leadership, the principal's are the same. You need effective communication, clear articulation of ideas and an ability to influence and lead.

If you focus solely on your technical skill and implementation ability, then it is going to get harder and harder to progress. At a certain point an exceedingly skilled individual starts adding less value to the team they are in, unless they can demonstrate real leadership.