In many organizations getting promoted into management is the only promotion path. The result is many people ill suited and even uninterested in leading groups take on those roles, with negative consequences across the organization. If you know of managers who clearly don’t like managing, you and they have been victimized by an organization that has misplaced how and why it rewards people.
Removing money as an incentive to become a manager would be an interesting experiment in most organizations. The Fox would love to see how that works.