This is my current workplace. Projects have 1 developer and 2 project managers. The project managers are in meetings all day every day, doing what? And the developer is constantly being demanded to work impossibly tight deadlines, and deal with the project managers backtracking on the requirements. :/
This is the classic one guy digging the hole and ten observing him doing it.
I've had this discussion a few days ago and it's simply the problem of pay. As soon as you want to make more money you have 'to be in management and act like one' which is utter cow manure since adding managers is not going to make you any product and only delay it or make it worse but the end result is endless managers and not enough actual horses to carry the load.
