>Writing code is not the bottleneck, as in we can develop features faster than they can be deployed.
That's an organizational issue due to over-regulation, bureucracy, too many stakeholders each with their own irrelevant opinion, etc.
Startups or FOSS projects without the above absolutely can't "develop features faster than they can be deployed", and usually have a huge backlog of bugs and features they'd like to have, but never got around to.
If you don't have stakeholders I contend you probably don't have a product, or you're building the bare minimum MVP which upon becoming a product will be woefully inadequate, generating the aforementioned bottleneck.
I said "too many". And mostly meant people with a say, as in "design by executive board/committee" as opposite to someone or a small team with a vision. Not about not having users.
In any case, the point still stands: most companies absolutely can't code "faster than they can ship" and for that have huge backlogs of things they'd want to add or bugs to fix.