Agree with this take 100%. It's one the reasons that I'm a big fan of the SAFe (Scaled Agile) approach here. Your only commitment is the next PI (8-12 weeks) and that's a commitment that comes from a plan made by developers from priorities provided to them by the org.

Anything after that is subject to change that the the organization can reserve the right to pivot to new opportunities if needed. Makes far more sense but it's enshrined in an official structure rather than a PM's preferences.