Yeah. Except I need you to work on a legacy system from which we have only the source. Or on a project that you won't be able to handle alone for a time short enough for the product to keep relevance. Or any other big projects... How do you deal with this ?
Let's not speak about the need to sync with other team, external partner, showing progress to the management, getting the information from all those peoples, getting ready with side department like compliance, marketing or whatever is needed to make the work relevant.
So no, it's not to prevent anyone from starting a project from scratch. It's to make sure that the project will come to fruition, useful and if possible reach its goal.
And honestly, a good manager/tool will help deal with that. Now... there are a lot of them that create a kafkaesque hell.