Do Project Managers know their job?

I always wonder what are the qualifications required to become a PM? Is it enough to complete a BE/ BTech - 6/7/8/9/10 years of experience - some training - and tada............. here we have a new PM joining the forces of dumbos.

Project Management - by sheer sense means to manage project. Lets drill this down further. Who are homo sapience involved in making this happen? dev, qa, architect,..
So the PM should also be a people manager. And guess what guys, I have not found a single proper PM till now. Truly!! at least in India

Dictator is often apt word that fits a PM. Pretty simple to explain they do not have a convincing capability.

Lets examine the flaws - not fluent with English, no proper writing skills, they have no idea about what their product does (this is the least I would have expected), no proper business etiquette

God knows when they call themselves as a project manager, what they are really trying to prove