Like so many things there's no hard and fast rule here. Sometimes you are best being dispensable, and sometimes it's best being indispensable.
If you're a contractor and like the work... be indispensable as it will give you more power over your rates.
If you're 12-18 months from an IPO... be indispensable as it will ensure the golden handcuff stock option / RSU shower that touches the top ~10% of engineering is extremely favourable to you.
But otherwise, there's nearly always more value to you in being someone who is dispensable. You get more freedom and support to move roles, try different things, less lock-in to a specific team, role or part of an org. Your skills are likely more transferable to other places, etc.
"It depends" is nearly always the dull answer, and the parameters for that are always specific to your circumstances.
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