I said it upthread but I'll say it a little differently here. The PMs do lots of valuable work that allows us to do our work well (and prioritize it so that we're doing the right work).
If they're subject matter experts, that's best - they're your translator/interpreter, able to speak in terms of both tech and the problem domain. And they know what the user wants because they were the user of your competitor.
But even if not, they can be the best assistant you'll ever have. Dealing with customers, sales, higher-ups, etc. so you can focus on your work. Technically they may be above you in the org chart, but you can't have a better assistant than a good manager that gives you what you need, clears the way, and runs interference so you can work doing what you do best.
If they're subject matter experts, that's best - they're your translator/interpreter, able to speak in terms of both tech and the problem domain. And they know what the user wants because they were the user of your competitor.
But even if not, they can be the best assistant you'll ever have. Dealing with customers, sales, higher-ups, etc. so you can focus on your work. Technically they may be above you in the org chart, but you can't have a better assistant than a good manager that gives you what you need, clears the way, and runs interference so you can work doing what you do best.