You do realize that most engineers would hate to have to do the work of a PM? Talking to users. Analyzing data. Coming up with solutions. Convincing executives. Convincing designers. Convincing dev managers. Convincing devs. Writing specs. Handholding the project through the finish line.
You told me you don't want more meetings. But you realize that you'd have to have a ton of meetings to do the above? You think a spec just magically shows up and a ton of work was not done before it ever makes it to your queue?
>Engineers should be treated as problem solver and not code monkey
Engineers solve technical problems. Some engineers want to solve business problems too. Those might be good candidates to become product managers.
(Kinda struggling with that now; I'm peripherally involved in a project with big monetary implications. The "solution" is to build a big system as quickly as possible and run around making super-high-priority requests across a whole lot of teams, almost all of which need to be in place before any value is obtained, and which consequently is behind schedule and dragging out. On the other hand, a week, some database queries, and a reasonable amount of manual labor could get about 50-75% of the value now. But none of the project managers are interested in that fact, which frankly boggles my mind. I'm not sure if they just don't understand what I'm saying, or are just so stuck on the solution they designed that they've lost all ability to think outside it. One thing I have confirmed is that it isn't just that I don't have a full picture of the problem, which is the usual situation; I'm quite confident what I'm thinking would work.)
However, while that skill is not necessarily something you need a graduate degree for and 20 years dedicated experience, and engineers can pick it up, there are engineers who don't have it yet, or even won't pick it up because they despise it. The list of skills required to be an engineer is already pretty long, requiring this to be added as well raises the bar even higher.