The primary disconnect on this larger thread is a disagreement about terms. Does an "IC" mean someone who doesn't have any direct reports? What does it mean to be an "engineering manager"? Are staff, senior staff, distinguished engineers, et. al, without any direct reports part of "engineering management"?
The other big disconnect is in the size of companies in question. At the larger companies, you can have a clear separation of roles, so that some people are almost exclusively managing resources, and trying to match resourcing to business objectives, while other people are much more exclusively focusing on technical issues and how they can achieve business objectives by making the right technical decisions.
In these larger companies, the issue of people on "The Technical Track" not having the "muscle" of people in management is really not true, or at least, heavily over-simplified. (And this is another definitions question; at IBM and Google, Staff, Senior Staff, Principal, DE, Fellow, etc., were all considered as on the Technical track and were considered very senior engineers. Yes, they generally aren't coding much by the time they hit that level; although you might be surprised how much Fellows are still coding.)
The other big disconnect is in the size of companies in question. At the larger companies, you can have a clear separation of roles, so that some people are almost exclusively managing resources, and trying to match resourcing to business objectives, while other people are much more exclusively focusing on technical issues and how they can achieve business objectives by making the right technical decisions.
In these larger companies, the issue of people on "The Technical Track" not having the "muscle" of people in management is really not true, or at least, heavily over-simplified. (And this is another definitions question; at IBM and Google, Staff, Senior Staff, Principal, DE, Fellow, etc., were all considered as on the Technical track and were considered very senior engineers. Yes, they generally aren't coding much by the time they hit that level; although you might be surprised how much Fellows are still coding.)