[Foobar8568]

Because management believes that only the business or PM (as in project manager) are worth their salts and important.

For some reasons, PM are thought to have a great understanding of both functionals and technicals of a solution, while at best, the only good they are at is navigating the organization and shielding the team.

So in a word, management is most likely useless and PM even more, especially if the management believes that a PM can handle a few projects at a time for cost saving (!).

[tooltower]

Citations needed

I know you are venting, and even agreeing with me, but I wasn't trying to make this a SWE vs PM thing. The dynamic you describe hasn't been my experience, at least so far.

Wherever you work, I hope you find ways show the value of your work to your management chain too.