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I guess the flaw is that it’s (almost) never used only for planning and is often used as a metric of productivity, from my experience. It becomes a competition to see who can check off the most story points, and velocity is often used to compare developers against each other.
Wow, that’s messed up. Luckily I’ve never had such a team/such leadership.
Yeah I’ve seen it, it about burned the company to the ground too over exodus of talented personnel… so… managers beware