Yea this all screams 'I need someone to scream at'.
Was a satirical article posted here a while back about a CEO wanting his people back so he could feel powerful again, and IMO that is 99.9% of the reason for management/C-suite's push.
Management becomes redundant/useless and c-suited only have each other to boss around, and we can't have that.
Or, as my grandparents used to say 'If everyone is rich(powerful), no one is rich, and no one would do the work.'