First you have project-centric companies with NO “product thinking” or UX whatsoever. Hiring a product manager for each team is a big step up, though at this point things still typically resemble a project factory.
We Need Fewer Product Managers
John Cutler

When a project-centric company hires a product team, but does not hire a cross-functional team around products, you create a recipe for overworked, beat-up, reactive product managers. These product managers the are at worst “idea people” with no team to build with or in the least they are salespeople peddling pitch decks for budgets.