Endless freedom
In the best of worlds, each product team would have an endless freedom to manage all decisions about their product. Each team would be 100% autonomous in the planning and development of their features.
Development times would be much faster as each team wouldn’t have dependencies to other team. Each product team would then be small so they could be superefficient and avoid management overhead.
There would be no need for enterprise architects as the organisations architecture would be a blank paper, neither a program office as prioritization is not needed.
But in this best of worlds, the business mode canvas for the company need to be simple. Few value propositions, limited customer segments, one or two channels.
If you have a complex business model, then you need enterprise architecture and a firm governance of the produkt teams so that the things they build works together, by purpose, not by chance.