This is a real problem when the "direction" == "good feedback" from a customer standpoint.
Before we had a product person for every ~20 people generating code and now we're all product people, the machines are writing the code (not all of it, but enough of it that I will -1 a ~4000 line PR and ask someone to start over, instead of digging out of the hole in the same PR).
Feedback takes time on the system by real users to come back to the product team.
You need a PID like smoothing curve over your feature changes.
Like you said, Speed isn't velocity.
Specifically if you have a decent experiment framework to keep this disclosure progressive in the customer base, going the wrong direction isn't a huge penalty as it used to be.
I liked the PostHog newsletter about the "Hidden dangers of shipping fast", I can't find a good direct link to it.
https://newsletter.posthog.com/p/the-hidden-danger-of-shippi...
Speed actually just wins, because we are usually constrained by time.
Working or useful software? AI hasn't produced any at all since 2023.
I suppose there is an argument that if you are building the wrong thing, build it fast so that you can find out more quickly that you built the wrong thing, allowing you to iterate more quickly.
Way too often that is used as an excuse for various forms of laziness; to not think about the things you can already know. And that lack of thinking repeats in an endless cycle when, after your trial and error, you don't use what you learned because "let's look forward not backward", "let's fail fast and often" and similar platitudes.
Catchy slogans and heartfelt desires are great but you gotta put the brains in it too.
A lot of people are so enamored by speed, they are not even taking the time to carefully consider the full picture of what they are building. Take the HN frontpage story on OpenCode: IIRC, a maintainer admitted they keep adding many shallow features that are brittle.
Speed cannot replace product vision and discipline.
Discovery is great and all but if what you discover is that you didn't aim well to begin with that's not all that useful.
In the last year or so I've been able to prototype it and accelerate the development quite significantly using Claude and pals, and now it is very close to a finished product. One one hand there's no doubt in my mind that the LLM tools can make this sort of thing faster and let you churn through ideas until you find the right ones, but on the other hand, if I hadn't had that slow burn of mostly just thinking about it conceptually for 10 years, I would have ended up vibe coding a much worse product.
It also moves fast with a tendency to pick the wrong direction (according to the goal of the prompter) at every decision point (known or unknown).