> As long as this hierarchy exists, the problem will exist.
I would encourage you to try to setup a place where no hierarchy exists and see how it goes. In my experience people have wildly different opinions on multiple (even minor) things and without someone to "take a decision", things end up just going in circles.
Of course, if the person taking the decisions repeatedly takes decisions that have a negative longer term impact (much easier to asses on longer term than at the moment you have to take the decision), something should change, but that can include contributors looking for other companies ...
I've worked in teams where both Team Lead and Product Manager were peers to everyone else. Everybody reported to a manager above the team. They were some of the best performing teams in my career.
You put agreements/processes in place to make decisions in a flat hierarchy, and as last resort business (PM) makes the calls.