Not often called out because the short term effects of managers not existing are minimal, where as without engineers work stops. Long term without managers work continues but the value tends toward zero.
Quality managers doing more than shoving boxes, that's a different story. We are definitely lacking high quality management capacity actually capable of preventing these situations from happening in the first place. I'd argue an overcapacity of managers actually actively prevents healthy relationships and usage of developers. People who aren't capable of doing anything useful in the moment, get antsy. It is a lot easier to get antsy as a manager than it is as a developer with an endless backlog.
That's also one of my arguments against full time managers. Management work is actually pretty rare, and full time managers tend to inflate it as to not twiddle their thumbs. As we move towards more "self-managing" practices (actual self-managing), total FTE of managers required drops significantly. It makes more sense to hybridize the role, so they keep an affinity with technology, than to put them on the "people manager" path which makes them rapidly lose their connection with technology and will quickly makes them stub their toe against Dunbar's Number. That's before considering tech will rapidly take away most of management's routine work. Their most important responsibilities don't take the majority of their time.
And now most of the managers have a calendar full of meetings to coordinate projects with other managers that after that they meet with their teams to get feedback/answers they need to go back to the project meeting and tell other managers that tell their teams... If they were not managers but developers or engineers with technical knowledge, they would save a ton of time (and team's time) and solve most of the issues in a couple of sessions.
But most managers will disagree because they cannot see how the "difficult technical problems they helped solving" were not so complex in the first place... when you put together the people who knows about the code/projects/systems.