Yeah, the people who are big proponents of GM empowerment almost always seem to pull out the idea that managing it implies that most GMs are obnoxious twits. While there are some like that, rules are going to rarely rein them in because they'll just ignore them.
Its the people for whom constantly going to the well to apply judgment calls, and being resistant to being challenged on them (for any number of reasons, good, bad and in-between) that it serves, because it reduces the frequency of bad calls (especially on-the-fly ones, but even ones with more time where the only person who gets to think about them is themselves). Rules aren't immune to being bad either, but the difference is if you see a bad rule, you can talk to everyone about it and change it in a time frame where everyone has time to think about it and discuss. The only counters I see to this are usually "Players don't have perspective" (to which my reaction is "Then help them learn to get it"), or "there's too many bad rules" (to which I say "Then why are you using that rules set?").