Better PMs do this today by having buffer-features they can cut when needed. It'll handle the not-enough-memory issue as well as a meddlesome VP who think you're over-subscribed and wants you to cut to meet your dates.

Also, don't forget you're hearing decades-later retellings of someone else's story. I don't doubt that they trickled this extra space out as changing requirements mandated it, but that they kept from doing so until the team had actually reached a certain level of product-maturity and reclaimed all of their own waste first.

Remember that the PMs goal is to ship. Them blocking some assets but actually shipping is a success. Better 95% of the product than 0%.