It's about moral authority. The only people touching production should be those whose pagers go off at 3am if it all goes hatstand. Everyone else is the peanut gallery.
Are you sure? Amazon is getting flak for that lately (in e.g. Yegge's rant), from having all of its developers on-call. You should be around to fix something you push if it breaks things, but that's not the same as being on-call at all hours for any given coworker's or manager's standard of "going hatstand".
>You should be around to fix something you push if it breaks things
Which has another advantage over Amazon's pager policy: if you are up at 3am, only semiconscious, you are likely to be more useful fixing code that you broke (because you just touched in the last day or two) than some other coworker's mistake.
Agreed - that is a general rule too. E.g. those that do the actual work make the final call on which technology, language, database, whatever to use - not some "architect".