The single biggest value add of feature flags is that they de-risk deployment. They make it less frightening and difficult to turn features on and off, which means you'll do it more often. This means you can build more confidently and learn faster from what you build. That's worth a lot . I think there's a reasonable middle ground-point between having feature flags in a JSON file that you have to redeploy to change a…
I agree with a lot of this, except for the part about de-risking deployments. That should not be a reason why to adopt a feature flag platform - that is a symptom of a bad deployment pipeline that should be fixed which is a whole other story.
It's one of the two big reasons. First is the ability to rollout features gradually and separate deployments from feature release, and second is the ability to turn new features off when something goes wrong. Even part of the motivation of A/B testing is de-risking.