1. That's not true. Even with continuous delivery, you can still just have a sane and mostly stable roadmap that you're betting on, and gradually migrate all your users along it in a cohesive way with thoughtful transitions when any radical changes are needed. Feature flag stuff is a specific approach to product design that took over a lot of engineering teams in the last 15 years. It relies on continuous delivery, for the most part, but continuous delivery is itself completely ambivalent to it.
2. Continuous delivery is rarely necessary in the first place, and almost never in the interest of users. It gained ubiquity as it became first became practical and coincided with product designer's naive enthusiasm for feature flags, but mostly works against user satisfaction by making it hard for users rely on their tools being in a specific condition at any time.
Al other software could get away with deliberate release cycles rather than an urge to YOLO things into production. I just think that there is a fallacy in business leadership that ultra short turnaround times on features actually matter for a business.
It's like a restaurant. You can make sure they new dish tastes like what you intended and isn't going to poison anyone, but until it's on the menu you don't really know if people will want to eat it or if it will be a success for the business.
This does make me wonder whether there's a place for a system where you split your usebase into N shards, and only deploy new versions to one of them; reducing the update rate from a user perspective by a factor of N. Of course, this means you have to maintain compatibility with N versions, but that's still better than N feature flags.
Expecting your customers to do your QA for you is super common these days. But that doesn't make it right.
(What really infuriates me is the general lack of feedback channels that enable users to actually contribute to QA. With open source software, end users can at least open a ticket on the bug tracker. If it's a commercial product, all too often the only point of contact is a disempowered call-centre worker, who can't even log a bug for you.)
It can decrease the chances but isn't a panecea.