Worked in a similar setup as a PM and really liked it. As you said, it can be somewhat apples-to-oranges comparing new functionality with a stream of tech debt

Worked in a similar setup as a PM and really liked it. As you said, it can be somewhat apples-to-oranges comparing new functionality with a stream of tech debt opportunities, so it’s helpful to target a ratio, more like stocks/bonds in a portfolio. We called it “product health” so it could encompass tech debt but also UX debt, performance, cosmetics, etc.