Developers just want to know what they're supposed to be working on. Managerial types want to know what people are working on, when things will be done, and goodness knows what else. You obviously need to give developers the room and time to get actual development done. But at the same time, unless you work for a truly tiny company, there's always going to be some level of crap reporting that feels useless to most developers, but is important to someone else.
It's hard to strike a balance that works for everyone.