I work on projects where we measure the output. There's nothing "pseudo" about it.

Tell me, what do you measure? Changes shipped? Lines of code? Customer satisfaction? Defect rate? MTTR? New engineer onboarding time/TTFC? Security/compliance audit turnaround time? Uptime? Employee retention? Rollback/forward-fix rates? Linter errors? Test coverage? Meaningful test coverage?

Depends on the clients maturity, but some places all of the above.

What are the numbers you are getting?