Also, I'm not sure I really buy the argument that because you can automate some "day to day business tasks" means you know better about how a business should be run. Automating a process that already exists is not the same as deciding which processes need to exist and which don't. Certainly, there are people who can both but I'd be lying if I said any significant number of engineers I know could really do both.
However, there's the magical "sales" and "public relations" side which those same awful (operationally) managers usually excel at.
When those managers have a strong CIO or operations guy by their side they're a killing team, but I've seen cases where they get sweet-talked by an atrocious ignorant CIO (and they can't see it because they're not knowledgeable themselves).
I've also seen strong, well rounded CEOs... and many were engineers transitioned to management roles (with MBAs, etc).