[growse]

It seems like you're arguing that the dev teams should spend some of their time managing the product. In other words, it's a 'hat' to be worn occasionally by some team members.

Nothing wrong with that, except what typically happens at larger scales is that some people enjoy wearing the hat more than others, then the team realises that it's better if those people spend most of their time doing product management, and then they tweak their job titles ever so slighty....

> How often do you have a Product Manager who is an expert in regulatory/compliance laws and has contacts with government agencies?

In my (highly regulated) industry, always? They'd be bad at their jobs if they didn't have this.

Edit actually, I walk that last bit back slightly. They don't need to be experts in those things, but they need to know enough about the broad landscape to understand what tradeoffs need to be made and set direction. Similar to a CEO not needing to be an expert in product, marketing, engineering, finance etc. to be effective, but they do need to have enough knowledge to know how to balance competing requirements across these things.