Agreed. But there is a new dynamic coming to place. Who can execute faster now that we have AIs? I think the combination of (Good SWE using AIs) collaborating with (Domain Expert using AIs) is the winning team. Things are accelerating on all fronts, the frontier may be jagged but AIs is making progress on all capabilites.
Additional iterations are valuable, if and only if we learn from additional iterations. Otherwise we are just spinning our wheels.