Product and design should own products most of the time. I think most startups would be better off outsourcing their builds.
If you open a restaurant, is the menu written by a chef or by the guy who built the oven? Are movie scripts written by the camera operators? What industry asks it's technicians to decide what to create?
I actually just quit a job because developers were running the show way too much. Nothing was ever delivered to expectations or satisfied user needs. It was extremely frustrating for me to just be throwing code over the wall.