SME and IC are functionally different. SME informs, IC creates. Often, IC aren't SME in the space they're developing in, because they're SME of the technology instead of the business.
Or, if you truly do not need anyone but a "technologist" to deliver product, you must work in a pretty simple business space! I work in healthcare and our PhD's and MD's have a very, very different knowledge space than I do, I and I deeply respect their contributions.
It is unparsable Dilbert nonsense to anyone outside of specific scenarios. And it causes interminable discontent. Because what if the SME is the PM because they know business and tech but the SME is actually the IC because they know the tech and its tech but what if the manager is actually the SME because they're running the tech and may need to redelegate if the IC needs vacation, blah blah blah.
(job history: college dropout waiter => my own startup, sold => Google for 8 years => my own startup)
A human being who avoided corporate brainrot just writes “I worked with John and he was indispensable because (insert reasons you wrote here)”
I’m 37 and never heard of this acronym. That’s the entry-level version of my point. Not that other people hurt me or people knowing things is actually bad.