In my experience, product people who know what they are doing have a huge impact on the success of a company, product, or service. They also point engineering efforts in the right direction, which in turn also motivate engineers.
I saw good product people leaving completely destroy a team, never seen that happen with a good engineer or individual contributor, no matter how great they were.
I have yet to find a product person that was not involved in the inception of the idea that is actually good (hell, even some founders fail spectacularly here).
Perhaps I'm simply unlucky.
But he was also technical enough to have a pretty good feel for the complexity of tasks, and would sometimes jump in to help figure out some docker configuration issues or whatever problems we were having (mostly devops related) so the devs could focus on working on the application code. We were also a pretty small team, only a few developers, so that was beneficial.
He did such a good job that the business eventually reached out to him and hired him directly. He's now head of two of their product lines (one of them being the product I worked on).
But that's pretty much it. I can't think of any other product people I could say such positive things about.