It is also a story the pretty much every group in an organization tells themselves at some point: from HR's perspective things would be great if the company just let them if the company let them pursue their vision of proper talent acquisition. The sales team believes they're most important because without them there's no revenue and they understand customers the best because that's one if their closest contacts. And so on.
The truth is that no one group would accomplish much if they were the only ones in charge. In reality, there should be a seat at the table for all of the groups.
Absolutely developers should be in the mix for understanding customer needs and helping guide things appropriately. But developers are no more inherently capable of understanding those needs than anyone else, and in fact a non technical view is just as important when the target audience is not just technical folks.
An organization will fail when pretty much any one of its groups is sufficiently bad at their job, and will rarely succeed just because one group is good at theirs. But the "if only developers ran things" trope is old and worn and wrong.