I believe the standard strata management contract delegates all office-bearers duties to the strata manager in the absence of anyone to fulfill the roles from the EC. So, yes.
If the strata manager is diligent and efficient, it could be the best thing that could happens because decision will be made by someone who knows what they're doing without all the bickering and infighting. Just don't expect any deep thought on forward planning – that would be well beyond their remit.