One thing I learned working with many developers over the years it's that this is fairly dependent on the individual.

Some absolutely thrives in an environment without process, I've seen some who simply crushes it without processes and procedures. Beneficial for early stages of company who wants to get a product out asap.

And there are those who thrives with processes, useful and even critical for later stage of the company. I think it's important to have a good balance of these types of developers to maximize each of their strength and weaknesses.