All of your points are valid. But here is the catch which many ICs might not realize. There are far more management positions than pure ICs. It's the unfortunate that you be disadvantaged if you stick to strict ICs path. The competition is also fierce. The talented ICs are so far above the rest (the 10x/100x engineers).
It's a simple supply and demand problem. The company needs a lot more of above average managers/hybrids. It's not good for average ICs to stuck to their little world if they want better promotions.
Just to clarify when you say IC you mean literally an IC as opposed to the leadership path in an IC vertical? Many companies expect hither level ICs to be leaders in one way or another, you don’t need to go down the management path.
I mean the essence of the problem comes down to people management. If you mean the pure technical role, then yes that's what I am referring to which has far less positions. And usually your competition would be the elites. Because many ICs try to avoid people management.
I am not talking about whether there is a such a path for ICs. I am talking about the numbers problem. The unfortunate truth is that there are far more positions involves people management. Engineering manager is good example because ICs can wield their technical skills. But still, this roles still requires you to do substantial people management.
It's a simple supply and demand problem. The company needs a lot more of above average managers/hybrids. It's not good for average ICs to stuck to their little world if they want better promotions.