Maybe that's because management is required for 95% of the employees who don't have a PhD and wouldn't know what to do next (no idea of the big picture) or just play on their worktime (no internal drive)?
I think that's a cynical way of looking at it (and I'm a pretty cynical guy). Some people are just lazy, but they're in the minority. I think most smart people will rise to the occasion, if they like their work and feel respected.
Most new grad students drift for a while until they find their internal ass-kicker. The job of the "manager" is to help them find the thing that lets them excel, then get out of the way.
I think most smart people will rise to the occasion, if they like their work and feel respected.
Most smart people carries an awful lot of weight in that sentence. And respect can be traded off against liking. Valve is an existence proof that this is a feasible mode of organisation but I would be surprised if it worked with a workforce that was not above average in intelligence, conscientiousness or both.