I think the missing piece right now is some kind of real-time learning for LLMs, which I believe is being worked on. The global memory of an LLM should adapt as you provide more information, and this way teams and orgs would be able to leverage it a lot more, and you would have something like a disruption in some of the middle management roles. Contributors would be able to use LLMs as the mediators to understand what is going on and provide it with the latest status updates that can be queried by others.
AI isn't killing product management - it's eliminating the busywork. While document creation becomes trivial, the strategic work of connecting today's activities to customers' desired future becomes more crucial than ever. This "death" might just birth something better.