Not really managers, I would put the new role more in the senior engineer / architect category. Those still have to deal with deeply technical things like design, architecture, problem decomposition, research, domain expertise, code review, collaborating with technical peers -- all of which (people) managers don't typically do.

If you ever wanted to climb the senior technical ladder, this is now the quickest way to experience it. Except instead of other people you get to work with agents which, while a very different experience, requires largely the same skills.

So yes, your job is not what it was before, but with career growth it typically was not anyway.