To really build great software, you need time and space to git your head around the problem. This is obviously not possible if you're spending most of your week in meetings and tracking the work of 7 or 8 team members.
In my experience, you can be a great IC *or* a great tech lead, but you cannot be both at the same time.
Also, I can give my team members detailed feedback. I think they take my constructive criticisms more seriously if I also give them praise which is detailed and accurate. You need a hands-on technical person to really understand people's strengths and weaknesses in a concrete way. Being hands-on also makes you more approachable; people will tell you things that they wouldn't tell a non-technical manager.