You may not mean it but I do think sometimes framing it this way implies leading and managing is something that requires less ability (it's a skill in its own right).

What I think is true is people cap out their technical competency, and look to shift their skillset and, globally, we are bad at a) training them to be good managers (because there is a wrong assumption it's an innate skill) and b) weeding out the many who also lack the ability to be a manager.