This is only one framing. The rest of the company might not depend on it, but they also have work to do that might be best done in parallel instead of serially.
A really basic example: I’m the CEO, and I’m speaking at some industry event. I want to know if feature X will be ready so I can announce it at the event, or will should we prepare something else. Engineering is going to need to back into an estimate so that the rest of the org can prepare for a calendar date — marketing, sales, whoever is writing the presentation, whoever is printing the materials for our booth. This is a totally reasonable ask of an engineering org without it being as high stakes as “this is a massive bet on our ability to estimate software timelines”
Other parts of the org also have deliverables, and ensuring those deliverables can be coordinated to land at roughly predictable times is the job of management. It seems unfathomably crazy to imply that software is some magical discipline that is immune from having to set expectations.