If I may function as the devil's advocate - One can read the above as a claim that because you didn't have a good business guy engineers should have worked faster? Would a faster product iteration worked if the business acumen would still have been missing?
It might have. Part of it was arrogance and bad advice from VCs, not lack of business acumen. There was a rejection for industry practice because we were different and doing something different, but it wasn't actually different and couldn't monetize because we focused on users that couldn't pay us real money, while working in an industry that doesn't value innovation.
I don't think the argument is that engineers should work faster. It's that they should be willing to skip some of the stuff you would normally say is good practice in order to ship features super agile and make any necessary pivot easier.
It wasn't a lack of features so much as a lack of talking to people that had purchasing discretion. Never focus on users in B2B, focus on people who have the ability to approve a purchase order.