My experience is that invariably results in "development by veto". Each prototype they say that's not what I want, give me something else (that I'll fail to describe just like the last time) and I'll tell you that is wrong too after you've worked on it for a few weeks.
Occasionally, you'll randomly get something they accept - but only for a few weeks until they come across some missing capability for some other thing they never told you about.
Occasionally, you'll randomly get something they accept - but only for a few weeks until they come across some missing capability for some other thing they never told you about.