That is exactly how I've been working for years, even before AI. The slowest part of everything is sales, so the team has some flexibility in exactly what order to do things when developing features, as a few days of tweaking designs won't actually impact revenue. Devs copy existing patterns from prior features, code things up, and design has time to ask for adjustments before it is released. The longer a product lives, the more patterns already exist that can be copied, the less design needs to come up with new patterns, and the devs can just roll.

So if you have experienced design being a roadblock for years, and you are waiting on Figma for every feature... something is wonky.