The cost of doing all this measuring and evaluating and preparing-to-measure certainly isn't being measured, though, so we'll never know.
It's entirely possible to construct beautiful metrics, amazing velocity charts, etc and have a terrible product with miserable users. Many such cases.
Some of this metrics stuff is like "expressed vs revealed preferences". Users who complain about your product and demand new features more quickly don't want a beautiful burndown chart. They want you to improve your product. You may actually need to slowdown to speedup. It's likely you need to do some R&D, and lots of experiments that will look bad on metrics.
You see this a lot when you quantize teams into little buckets like operations vs new features vs customer success vs core engineering teams. It's possible for a team run by a bad actor to have nice metrics while being a net drag on the other parts of the org.
Or having the universe revolve around Jira, berating devs for lack of story progress in standup, and shouting about velocity in sprint ceremonies.. while also doing the above said verbal drive-bys? Who is causing all this churn?? Where is our focus? Where are people spending their time??
It's unknowable.