It depends a lot on what kind of company you are working at, for my work the product concerns are taken care by other people, I'm responsible for technical feasibility, alignment, design but not what features should be built, validating if they are useful and add value, etc., product people take care of that.
If you are solo or in a small company you apply the complexity you need, you can even do it incrementally when you see a pattern of issues repeating to address those over time, hardening the process from lessons learnt.
Ultimately the product discussion is separate from the engineering concerns on how to wrangle these tools, and they should meet in the middle so overbearing engineering practices don't kneecap what it is supposed to do: deliver value to the product.
I don't think there's a hard set of rules that can be applied broadly, the engineering job is to also find technical approaches that balance both needs, and adapt those when circumstances change.
If you are solo or in a small company you apply the complexity you need, you can even do it incrementally when you see a pattern of issues repeating to address those over time, hardening the process from lessons learnt.
Ultimately the product discussion is separate from the engineering concerns on how to wrangle these tools, and they should meet in the middle so overbearing engineering practices don't kneecap what it is supposed to do: deliver value to the product.
I don't think there's a hard set of rules that can be applied broadly, the engineering job is to also find technical approaches that balance both needs, and adapt those when circumstances change.