They respect my time, when I need something they're incredibly helpful, and they care about my career development.
IMO the culling over managers over the past few years is really a way to make sure you don't have someone you can discuss career development, promotion, and pay increases with. I have very honest conversations with my managers about these things regularly. If I had to deal with someone a few layers above I doubt I'd have the same success.
Another 'benefit' for the company in culling managers is that the manager track generally has higher pay at each level. Understandable given it seems to involve more time commitment and dealing with people can be much more tricky than dealing with code. Less options for IC's to transition == lower salary burden. Reduce the number of people on the manager track and you reduce the amount of salary an employee can hope to attain. I've definitely been put off switching from IC to manager because I feel the jobs are less secure over the last few years.