yes but we bundle a lot of things into the term management

hierarchy will always exist (if at least someone has to pay or fire you)

authority will always exist (if at least someone will be more experienced in a topic)

processes will always exist (and someone has to put them in place)

you can have processes in place for emergencies, deciding if those emergencies are worth dropping stuff, for boring bugduties etc

the shift is imho not so much about making everyone his own boss but about pushing decisions as far as possible "down the chain" until you do no longer need to think in "hierarchy chains" but roles and groups of people