One important distinction to make is the difference between a manager who started out as an IC on the project (esp. the case when they actually built the thing from the ground up) versus a manager brought in from the outside. I think the former is more likely to be hands-on and generally speaking the expert in the room. But, sometimes you need the latter. It can be challenging (even counterproductive) for the latter person to try to be technically relevant, when they are often the least technically knowledgeable person in the room when they join.

I say this as someone who has been in both roles!