I previously worked for a Dutch fintech company that operated in the same way, but from my understanding they were (probably still are) really quite effective, profits hugely increasing year-on-year.
But this Dutch company also makes use of some kinds of SWAT dev teams that help customers on the spot with issues, making sure the product lives up to the clients’ expectations, even if this means modifying a product delivered by the core dev teams. I.e.: if some feature was promised, but not yet part of the current release, the SWAT team might hack something quickly, often on the spot in the clients offices. Later on, such a hack might be replaced with a proper solution.
But this Dutch company also makes use of some kinds of SWAT dev teams that help customers on the spot with issues, making sure the product lives up to the clients’ expectations, even if this means modifying a product delivered by the core dev teams. I.e.: if some feature was promised, but not yet part of the current release, the SWAT team might hack something quickly, often on the spot in the clients offices. Later on, such a hack might be replaced with a proper solution.