"If she was ALSO the team lead, what kinda muppet moron* would expect her to write a majority of the code?"
You make a good point: the best managers hardly seem to work at all. And yet, without them 'being there', things never go right...
There are 3 basic management styles [ok others exist and there are variations between, but this is an illustration]:
1. The delegator: This manager does very little of the work himself. His #2 guy is probably one of the busiest people, and does must of the low-level detail kinds of management. Delegators step back to see the big picture, and solve those problems that 'big picture' people need to solve. There will typically be a hierarchy underneath, with delegated authority at each level, even if it's an informal one. Working for this manager is typically good, as long as you don't mind a good level of accountability. But it will usually be clear as to what you're accountable for, and to what extent.
2. The authoritarian: This person tends to micro-manage everything, getting into the detail, even doing the work himself. Working for someone like this can sometimes be good, as one person 'uber alles' might actually get things done faster. But it seems that most of the time its's like working for a dictator who hasn't got a clue. Authoritarians will try and punish people into compliance, EVERYONE staying late until things are done, yelling at people in meetings, breathing down your neck while you complete some bottleneck task until it's done, and so on.
3. The affiliator: This person is everyone's friend, wants to get along, wants to make everyone happy, doesn't want to upset the apple cart, doesn't want anyone quitting or have to fire anyone. Although with competent people working for him, his projects may be successful, usually it's a dismal failure in which the manager gets called on the carpet for being ineffective. His people, however, LOVE working for this guy, because there's no real accountability, and he takes all the heat.
So after "all that", if the project manager or 'team leader' only writes a small amount of code, even THAT might be "too much". In my case, the best "let's get it done" session with me at the helm involved asking the guy most familiar with the code "where's the part that does this", letting hm find it, taking a look and offering suggestions and "let's try this" to fix it, get feedback, etc. and let him do the editing. Project got back on track, too. It just needed some steering, that's all.