A lot of senior developers move to management, it seems it is a good career move just liked you said in the article. However not everyone is manager material, people have to realize their skill. If you are not a manager material, eventually the people under those managers is going to seek another job, it only hurts the company.
A manager is someone between the upper management and the developers under them. It is a sandwich layer. They have to due with company politics and tons of paper works, at the same time they have to help their people. If anything happens to a project, the upper management will blame the managers.
Some managers have technical background, they keep interfere their developers to do their job. They make the developers using their way to do things, it just tells me they could not let go. Some managers were on the management side, they just pushed their developers to do what the management said. If the management set up an unrealistic deadline for a project, instead of talking to the management, some managers just pushed the people to work enormous overtime to complete the project in time. This is their way to please the management to climb the corporate ladder.
In my old company, two managers eventually stepped down to become a developer. They were managers for over 10 years. One told me he did not made a whole of more money than the senior developers but the stress was 10 times more.
Over the years, I had worked for many managers. There were only a couple that I would consider they were good.
Many years ago I tried to go to management and I quickly learned that I was not a management material. I was not good at playing company politics and I set up a very high standard for the developers working for me. I may be able to keep going as a manager but I decided to remain as technical.
One thing - there are more developer positions than manager positions !!!!!!!