I believe the PM is a direct result born out of the inefficient org chart of most organisations. So in the status quo it's a necessary evil.

I wrote about that here[1] but I also think there are ways how you can reinvent structures to cut out the PM[2]

1: https://andreschweighofer.com/agile/whats-wrong-with-traditi...

2: https://andreschweighofer.com/agile/collaborative-product-ow...