Every industry is different as far as who they promote and how they promote.
Where I worked we were spread all over the country—and while there was a “headquarters” most of the managers did not work there.
The visibility you discuss was only available if you worked at HQ. Folks who wanted it picked up and moved and commuted to the office.
The vast majority believed the quality of life working at home outweighed the benefit of potential advancement opportunities.
Since the “promotion pyramid” ultimately has great benefits for only a very few managers at the top this worked for everyone.
I think that middle management is where late-in-career people want to be, as continually keeping fresh on technical skills can be wearying when one needs stay a top performer.
-PJ