Thanks for reading! PG has a great article on "maker" vs. "manager" (I borrowed the framing from him and linked it in the article).

http://www.paulgraham.com/makersschedule.html

To your second point: Ultimately, the PM and the people they work with (engineering, design, PMM, research, etc.), are a cross-functional team. The PM shouldn't just provide a list of what to build; the PM should help lead them towards figuring out what to build, collaboratively, together.