“There’s an IC sitting out there who just had an amazing idea for a new feature/product. What happens?” in a company with more than 10 staff, they should talk to a product manager, sorry. you can't build a sustainable company by adding new features willy nilly whenever some dev has a Great Idea.
This is hilarious because it seems to place some kind of value on a stable interface, but that is something that companies / product managers have themselves systematically destroyed over the last decade or so in pretty much every arena. Only software for professionals is even slightly immune to this (IDEs/CAD/etc). Pretty much everything else has auto-updated churn that you can't opt out of, on everything from UI to core features.
Putting devs in charge of inserting features "willy nilly" would likely result in a much more consistent experience than what we usually get, because they'd be willing to declare something "finished" eventually. Product managers want the churn, because they can boost fake metrics like engagement, and it gives them stuff to do.