This is a depressing OP and comments section but it is not all doom and gloom. The tech industry is slowly getting better at reward/valuing/promoting the individual contributor. Keep in mind corporations are, by nature, hierarchal so higher up the chain = higher pay & more respect is the natural thing to do. A trend of the larger tech companies have been emphasizing individual contributor roles within org particular in innovation and strategic roles. They often have different name (Distinguished Engineer, Engineer Fellow, CTO office, Innovation Office, Program Manager). I would seek out out companies that have such a program if your desire is to stay technical and an IC while still being promoted. Next to zero chance getting this at a super small startup or non-tech.

If your goal is to be a technical manager/CTO, the Product Manager role is a good path. For me, I transitioned to a Sales role (Sales Engineer), which is another route to the CTO path.