You do realise that a lot of things happening at most companies have absolutely nothing to do with code?
So the interesting question is, in that context is a manager becoming ever less necessary
I mean a company is effectively "just" a machine to deliver a service / outcome from inputs. It is a set of processes - which can be codified. why not in software? And if you want to chnage the process, make a release.
The hard part of the "machine to deliver a service / outcome from inputs" is not "formalizing a process in code." It's designing that process, in all its gross real-world complexities, and then (even harder) changing it as the underlying world changes.
If it was easy to actually nail down the requirements in advance, you could ship out the coding to meet a spec to the lowest bidder.
A number of comments are "it will be awful if the code is bad because the code is inflexible". Yes. That's called bad law. What we want is to write good law.
See the Manna story below.