When you need 1 manager for every ~8-10 ICs, and one 2nd level manager for every ~8-10 first level managers, and so on, the jobs become fewer and further between the higher you go up. Management does not seem like the path of job security to me.
Right. It's a path to faster financial security though. Realistically, the amount of time it takes for them to find a new VP role is baked into the compensation.