That's an interesting perspective but anyone who moves on after a "3-5 year period" wouldn't have enough knowledge to execute any useful technical management decisions... which probably explains the poor state of management generally in the software development industry today.

Well, in my opinion anyway.

I'd go further and say that people transitioning away from code and into management after so short a time weren't really developers at heart and most likely used peripheral knowledge as a 'back door' to management.