Unfortunately many companies can stand to have a layer of incompentency between those that make decisions and those that actually do work. One can even argue that when the workers actually know what they're doing and are actually working toward a goal, most of Management's job should be to keep obstacles out of their way, to anticipate the needs of the project, and to handle the company-external communications and initial deal-making. While it's true that some companies do make their earnings using entry-level workers or are structured to be profitable even with incompetent workers making up sizable portions of their ranks (Walmart, Fry's Electronics, and just about all fast-food come to mind), that should not hold true for companies that employ primarily skilled workers.
It's really aggrevating when skilled workers are both treated as if they're unskilled workers, and when they're managed by a former unskilled worker that somehow managed to get promoted up to lower-level management. Those kinds of managers tend to push everyone down to the lowest level, and to treat the skills of the talented workers as if they are unimportant. Ironically though, even good workers can often make for terrible managers, as often they cannot accept someone working in a different way than they did/do.
I will say that I have been happiest when I've had bosses that were better at the job than I was, that I could learn from, that actually respected what I was able to do even when it was not necessarily what they would have done. I felt that they trusted me to do the damn job and to get a positive result, without worrying about my methods so long as they didn't make things worse in the process. Those bosses have been very, very few and far between though.