> the best designs are based on the most information, and there's a lot of information that is not available until later in a project

This is an important point. I don't remember where I read it, but someone said something similar about taking a loss on your first few customers as an early stage startup--basically, the idea is you're buying information about how well or poorly your product meets a need.

Where it goes wrong is if you choose not to act on that information.