> the scope of migrations is limited to those where both old and new DDL are compatible with the currently running application.
You are absolutely correct, and that is the paradigm. Say, for example, you want to add a column, so you first run the migration that adds the column, and only afterwards can you deploy an application change that actually utilizes that column. Likewise if you want to DROP a column, you first deploy an app change that ceases to reference the column, and only then can you actually drop it.
This paradigm worked very well for the companies I worked with, and makes for both loose and tight coupling between code and database. It's loose when you have your test databases where you can deploy schema changes at will. It's loose in the sense you can take small steps at a time, each isolated from the other (e.g. ADD COLUMN does not require you to make any app changes _yet). Then, it's tight where you couple your code changes with the schema in your git repo. It's tight in that the app never gets too far from the database (normally one change away at any given time, per development branch).
> Being the migration asynchronous, I lose control of when to deploy changes to the application
Great point and absolutely on our radar.
> Not knowing exactly then the cut-over process is going to happen is also potentially a problem.
Again great point and on our radar. To be honest I previously moved away from caring about the exact cut-over time. We designed gh-ost to do just that: stall cut-over until the engineer/developer is happy to sit at their desk. OVer time, we found it was unnecessary. But absolutely there's use cases for both approaches.