If engineers really ran a company, progress will often slow down. For example, if you're surrounded but a lot of young talent, the phrase that you just constantly hear is "refactor". Not as many developers enjoy bug hunting as they do new feature development. I suspect that those of us who've been in the field long enough end up growing a much greater appreciation for PMs and they decisions they make make than when they first start out. Or maybe I've been fortunate to work with really great PMs?
It is important to strike a good balance. One should neither ignore input by the engineers, nor give them a completely free hand. Refactoring can be a benefit for the future, but it should not grind progress to a halt. Senior engineers should give valuable input there. And of course, sometimes a seemingly crazy idea by a young talent is actually a good one :).
