Sure, I work at one. But my manager is a former tech lead/architect who writes code everyday and he reports to a former Startup CTO with a CS Degree from UIUC. Are English Majors with no tech chops seriously managing engineers in 2020?
MBAs, mostly.
Yes, and there the software managers normally report to non software executives. Engineers reporting to non software managers who are not at a director or VP level is a bad idea.