I don't want people holding stakes because they want a promotion, because their direct manager wants to launch a corporate political battle into another team, or because some salesperson wants to get a commision for an otherwise worthless customer. I don't want roadblocks in the name of security so that the IT guy has a sense of self-worth. I don't want someone trying to protect their egos around something they worked on for 3 years, when there's new tech that supersedes it.
Anyone who has to work with the product is a stakeholder. Their stake in it is the fact that they will be interacting with it, and thus they care how, and whether, it works.
This is pretty much the only way I've ever heard it used in the companies I've been at.