Well, they do if you are only good at one thing - and only ever want to be good at one thing. Or if you're interested in keeping score.
I think we need something better. Like impact titles.
In what areas of life and business are you making an impact? Maybe you're a software guy that impacts the marketing team or maybe you're a mom that impacts your children's education and healthy eating habits.
I just don't think job titles work anymore. Everyone has multiple skills, but if we try to define people by a title they will begin to think that they are only allowed to do the tasks specific to that title. Some places want that. They want, as Seth Godin says, cogs. The world doesn't work that way.
For anyone that wants to be more than a cog, define your impact title - or at minimum stop being defined by your "job title".