I did a “principal” role with another name in a CTO organization. It got old quickly because you had no control, and it was difficult to actually accomplish anything.

The org evolved to a strategic devops role where we absorbed strategic platforms. “Principal” tech chops plus actual control of moats in the org translate into getting shit done.

IMO, unless “principal” is primarily a way to pay you more, you’re better off actually owning stuff than being “IT Yoda”. The same skills you think you’re avoiding in a management role are critical (and harder) for a technical leader.