That's because programmers can do management. It's not unusual to see engineers get tracked into management. I have certainly never seen it go the other way (partially because managers usually make more than engineers I'm sure.)

Yeah, and most of the time (at least at places I've worked) the managers are former coders. So arguing that all managers are stupid just seems silly to me.

Also, yes - anybody can do management, and anybody can do coding. Learning to do either effectively is a skill.

To add to that, you can't be a human being on this planet without some sort of management skills.