Totally agreed! I think good orgs that run well have a good feedback process and ownership between the individual teams. In my experience, the closer they work together, the more visible the impact is on ROI. The less context everybody has, the higher the risk that an initiative goes sideways and doesn't fully match the intent.
And yeah, cutting features and offloading debt is important. I love that part when starting an engagement! It's a bit of work to check critical execution paths and how customers actually use a product, but it's a good excercise for everybody to see the relationship between revenue and code.
This all sounds easy and in reality it's not the hardest, but for some reason no one is doing it.