This content reminds me of the different types of errors in hypothesis testing; type 1 and type 2.
Type 1 which is the probability of rejecting the null hypothesis when true(producer risk) while Type 2 is probability of rejecting the alternate hypothesis when it's true(consumer risk). Looking at both schools of thought, on the one hand the first school of thought chances that the development team will not satisfy his customer completely is high because customer s voice is vague and hence runs a risk of loosing her to competition on the other the producer runs a risk of wasting resources which the customer may or may not appreciate.
As easy as it is to fall on either sides, id say integrating both approches to deliver a complete and concise product for our customers will not only keep the customer happy but also give us(the company) an edge over our competitors.