Our upper management is incompetent because they are so removed from what we actually do, and show no interest in learning about it.
But my immediate manager is very far from incompetent.
I'm not sure I agree with having the technical guy be the personal manager, but when they only have a couple direct reports a good percentage seem be able to herd the cats semi competently.
That isn't to say there aren't plenty of disasters, but when it works, it works fairly well. I guess you just have to be willing to throw away some of your best technical people when it turns out they don't make good managers, or they turn into just another layer of middle mgmt that needs to be cut in a few years.
My team, boss included, is one of few reasons keeping me at this company.