The people that are tech leads already do much of what is in these meetings. Whether it's team/product alignment or the one on one's, I don't see much happening here that isn't already covered by a leader on the team. The curious thing is that, often, the tech lead isn't working side by side with a manager -- they work for that manager.
I'll admit, I'm biased. I've never had very good managers in tech and most of them sound fairly clueless to me. When I have met good managers they were usually either people that by their very nature stayed out of my business and let me run the team as I see fit (within some acceptable bounds) or people who were very senior engineers and transitioned into management and let me run the team as I see fit (within some acceptable bounds) while being able to personally identify with why this Root Cause Analysis is totally useless.