I realize this is an extreme case, but you should check out Valve's corporate structure. No one has a "title", everyone can move to whatever project that want to work on, and they still turn out excellent software.
And I'd bet you that every one of their projects with more than 10 people working on it has people doing mainly what is clearly recognizable as project management or business analysis.
While I wouldn't necessarily disagree with that analysis, Valve time has more to do with announcing release dates and then going way over them than it does not shipping on internal deadlines.
