If you're not familiar with the general arguments for why CD might be desirable, a good place to start would be the books Continuous Delivery [https://smile.amazon.com/Continuous-Delivery-Deployment-Auto...] or Accelerate [https://smile.amazon.com/Accelerate-Software-Performing-Tech...]. The TLDR would be that most deploy problems in practice turn out to be because the process is manual, infrequently-used, and/or unreliable, and by practicing "if it hurts, do it more often" you are forced to iron out those kinks. For example you can't deploy automatically without a good acceptance/smoke test suite, and without solid DB migration testing/linting/practices, to name just two of many. You could just build all these things without trying to do CD, but in practice it seems that it's quite hard for organizations to prioritize this work in isolation, and the goal of CD seems to provide a fairly clear map to a much higher-quality deploy process. The practice of deploying more frequently to flush out issues, is also quite unintuitive as you note.
Here's a (probably out-of-date) article on how FB did deploys in 2017: https://www.infoq.com/news/2017/09/facebook-release-scale/ -- batched commits and staged canary rollouts automatically cut and released every few hours.
If you have external contracts that are onerous to validate then it can be quite expensive to build high-fidelity internal representations of those contracts. Could still be ROI positive to do so!
In most cases the contracts are either internal or simple (non-temporal) external contracts like a REST API, so most orgs benefit from moving in this direction.
We came from very different lands I guess. Batching 50 commits with no easy way of knowing which commit caused the issue seems scarier to me, in case of an issue. And if you code correctly and have warmup requests, your deployment could be without any downtime. Obviously there will be some extra resource usage because of unready resources.
Doing this in production is being disrespectful of your users. Users are not waiting for your PRs to be approved and merged, they can be as delighted by your new button’s shade of lightgrey if it is released some days (even weeks !) after.