Good call - you cant' write shitty code if you're stuck in meetings all day. ;)
In all seriousness though, there is a solution against featurization:
1) maintain main product as usual w/ a team dedicated to it.
2) build plugins and/or add-on packages for it that incorporate the new features that management craves. Charge some small nominal price to cover dev costs and maybe a few pennies above that.
3) if the add-ons or plugins really sell (or at least have a ton of demonstrable interest), you incorporate them into the next version of your main product and charge accordingly.
4) features that do not get used as often anymore, or become obsolete, can be refactored or removed.
This way you have a nice darwinian approach... and features that fail to get public attention (and more importantly, their commitment in money and/or time) are the perfect platform from which to point back at management and laugh derisively... but more importantly, they just go away. The ones that succeed improves the product.
It's a method that gets used successfully in a lot of products (usually CG/graphics related ones, though vSphere w/ sVMotion also stands out here), so why is this approach so frickin' hard to grasp for most dev teams?