Yeah, in theory you’re technically correct, but in my experience, because “scrum masters are on the team” they’re usually a developer with little political or managerial power. I prefer having the scrum master and the PM on the team. As a pair they can navigate technical challenges and business politics effectively.
<insert meme of soldier protecting sleeping child>[0]
The SM is supposed to be part of the team, not part of management.
[0] https://pics.me.me/the-silent-protector-sales-department-man...