In many cases, growth is evidence that you've solved a problem in a way people find compelling. Look at Signal. I think its growth is a really positive development.
However look at Apple. For a large part everyone in the US who wants an iPhone has one. Sure, there are some people who can't afford the high price but that seems to be a small portion. However because Apple wants to grow they are working on making their devices less repairable and implementing trade-in programs so that people upgrade more often (and they can destroy the old ones). Is this growth evidence that they solved a problem? It seems that the problem they are really solving here is raising the stock price. And I will argue that raising Apple's stock price doesn't really help the world at all.
I think the initial growth of the iPhone was a sign of a good product. However I think this demand for continual growth is harmful to society overall.
That metric has been successfully gamed in startup sphere over the past decade.