While the codebase is critically important, the most important aspect is how that codebase translates into user experience. How the design/software changes impact what the customer expects and how the company manages the expectations of both existing and new clients are both vital factors.
Managing that journey for both internal software teams and the wider client base to achieve the overall objectives is the real landscape for managers.
Especially for small companies, the impact of poor commits can have huge impacts for important clients which then takes time to educate and assist them to handle.
In addition, it gets very difficult to critique a commit made by a manager (or worse a director who still wants to code) which is not consistent with rest of the team or the technical goals. They may have the best intentions but not reflect the current design/techniques that the rest of the team are using to improve the code base. The power structure just doesn’t allow the team to work. Seen many good people quit over this.