Agreed. The sweet spot is people who have product owner skills _and_ can code. They are quickly developing superpowers. The overhead of writing tickets, communicating with the team and so on is huge. If one person can do it all, efficiency skyrockets.

I guess it's always been true to some extent that single individuals are capable of amazing things. For example, the guy who's built https://www.photopea.com/. But they must be exceptional - this empowers more people to do things like that.