Clearly not if only half of management are bullshitters. It's also not exclusive to management: I've met plenty of rank-and-file developers who specialize in talking shite.
The difference is that if you're an IC you generally have to produce actual work that will be evaluated at some point. It's of course possible to BS your way into showing your manager you did more than you actually did or better than what you actually produced. If you're in management, then your job becomes mostly talking/meetings, which is much more conducive to "hand waving," which is probably why there are so many BSers who end up thriving in those roles.
Bullshitters are good at presenting the work they're doing as very challenging even when it's trivial, so they can also just ride simple a task for a long time.