For an MVP we build only the core features with no bells and whistles in a relatively short time and reasonable budget to be able to show the application to potential users, investors, potential acquirer etc. Once there is feedback from users/investors– we can add more features, improve it etc. Modifications are done based on the real feedback that we get from actual users/investors/acquirers- no need to spend months and large sums of money to build a huge application with a tons of features that we think is good but the actual users could care less about.
Ambitious development projects where a team decides to build a rocket to send to the moon from zero to hero â are often out of touch with the target market, usually overloaded with a ton of (not needed) features, over budget, late and often fail (no immediate or medium term gratification).