That good taste doesn't translate between domains very often. Good taste for developer tools doesn't mean good taste for a video game inventory screen. And that's the crux of the problem. There is a segment of the labor market calling themselves "product manager" who act like good taste is domain independent, and spread lies about their importance to the success of every business. What's worse is that otherwise smart people (founders, executives) fall for it because they think hiring them is what they are supposed to do.
Over time, as more and more people realized that PM is a side door into big companies with lots of money, "Product Manager" became an imposter role like "Scrum Master". Now product orgs are pretty much synonymous with incompetence.
Taste on the other hand is about creating an overall feeling from a product. It's holistic and about coherence, where intuition is more bottom-up problem solving. Tasteful decisions are those that use restraint, that strike a particular tone, that say 'no' when others might say 'yes'. It's a lot more magical, and a lot rarer.
Both taste and intuition are ultimately about judgment, which is why they're often confused for one another. The difference is they approach problems from the opposite side; taste from above, intuition from below.
I agree with your assessment otherwise, PM can be a real smoke screen especially across domain and company stage.
That’s definitely one of the biggest problems with product management. The delusion that you can be an expert at generic “product”.
We used to have subject matter experts who worked with engineers. That made sense to me.
The counter to that is "the proportion of 'really good engineers' to product engineering teams has got to be in the single digits," and I would agree with that, as well.
The problem is what is incentivized to be built - most teams are working on "number go up?" revenue or engagement as a proxy to revenue "problems." Not "is this a good product that people actively enjoy using?" problems.
Just your typical late-stage capitalism shit.