As the founder of a small bootstrapped team of 15, I can confirm that good managers are needed. I am already struggling at this size so I can now fully appreciate the role of good managers in larger orgs. Trust me, you need good managers. It is not only required but very critical to the success of any team and organization. There is a reason good CEOs and Executives get top dollar (and yes not all are worth the money but many are) because ultimately their job is to manage the company. Lower level managers as well have a critical responsibility to manage their own groups/teams.