The (relatively big and successful) tech company I work at, has gradually seen ~all high level decision-making positions filled with PMs, while senior engineers who have been at the company for years are being pushed out and/or leaving. Most of these PMs have very little understanding of the tech, the market, or how software engineering works, yet they now make ~all of the product decisions at the company. I haven't worked on anything remotely useful, or bottom-line impactful in 2 years. I was originally very optimistic about the company and elected to get paid in as much stock (vs cash) as possible... which I now realize was a big mistake.
travelalberta|4 months ago