The TL is the person who the buck stops with on technical discussions. While part of the job is providing mentoring for junior engineers, they aren't directly responsible for performance management, headcount allocation, etc, in the same way that a people manager is, and people don't usually directly report to them in the org chart.
By definition, no large engineering effort is solitary. It makes sense for the more senior eng to be responsible for the decisions that will affect more people, and that requires talking to and understanding them. If people want the senior eng title, they need to be able to do that kind of work.
I want roles in companies for the technical artists to progress. Where you get harder problems, work on more complex issues, do things that require more research and autonomy to solve. These skills are also valuable and needed in companies and most don't have a way of retaining that talent as they have no track for them.
In my own career, I am currently pursuing independent consulting as the "progression" of an individual contributor role. I believe this is fairly common, and I think there's kind of a mutual cause-and-effect going on there with the lack of good senior IC paths at many companies.
Most companies don't have any issue bringing in the aging expert that will code and lead their internal team, teaching them the in-outs of the technology they should master, yet have serious issues having such skillsets in-house.
Reason for that is simple - in most areas you can achieve more, if you can properly guide dozens of engineers than lock yourself in the basement. Main exceptions are crazy specialized perf gurus.
And some problems require not large numbers of people thinking a little about it, but rather long periods of time uninterrupted for one or a few people to think deeply about.
In some cases you want your three wizards supervising the architecture of 100 people working on 25 products… and sometimes you want them lovingly crafting every line of a framework or other core component that is going to mechanically influence all that work even more than design review ever could.
I think this is a problem in all companies in general.