I’ve noticed that often this is an area where WIP is not limited, and the efforts are least likely to be well managed and documented (unsurprisingly, it can take a lot of work to keep up).
I’ve also noticed numerous long term migrations that don’t tie back to a strong long term value proposition. And when the claim is that it does, it’s often just overly optimistic gazing into the crystal ball. Just as dubious as multi-year product roadmaps, for most businesses a ton of unpredictable things will occur.