Sure, if you're building something small, one person can be architect and general contractor and electrician and painter, etc. But the idea of division of labor is usually seen as a good thing. Not sure why we hackers should see it any differently. If you're building enterprise software systems that span multiple divisions and locations of an enterprise with 30,000+ people in 100 countries, ya know... you probably do need somebody who's job is to look at the big picture, see that the pieces being assembled fit the needs of the firm, and that the pieces work together in a clean and elegant way.
Having an architect, where needed, doesn't denigrate or devalue the role of the developers at all. It really is a different role that needs to be filled.