In my years of experience (both in big corporate R&D as well as startups) I've never seen a project fail because of the end product being too simple or not having enough features.
However on the other hand I've seen countless projects suffering delays, staff departures, emotional team arguments and eventually bad end product because of too complicated software architecture that overwhelmed its creators and because of obscure features that well-meaning engineers built in because "it'll save time in the long run".
However on the other hand I've seen countless projects suffering delays, staff departures, emotional team arguments and eventually bad end product because of too complicated software architecture that overwhelmed its creators and because of obscure features that well-meaning engineers built in because "it'll save time in the long run".
Btw this well known XKCD sums it up just perfectly: http://xkcd.com/974/