Unironically, this is what we did. Removed all 'layering', practically making groups of either product or tech and only 'manager' layer between that and C-level. Manager is only allowed to deal with people-stuff and PO's are only allowed to deal with product stuff. Everything else is up to the teams. Works pretty well for us! (and 'allowed' doesn't mean as a hard rule, it's just not their focus point, same goes for product vs. tech, it's not that you are walled off or something, it just means your core is very clear and how far away from that core you can get depends on your team and needs)