I've worked at both types of companies, and it's funny: People who have only worked in one style are surprised to learn the other style exists. I actually made a career switch out of engineering because I wanted to have more input into the product, rather than just sit at my desk getting showered with JIRA tickets. Of course, I switched out of engineering, and moved into a company with the other style--where the features were engineering-led. Just my luck.
Yes and I apparently always have, despite working for tech startups in several cases. Never thought that they would be considered "traditional", but they evidently are.
Quite interesting.