I hate product owners that demand every story has some immediate appreciable benefit to the user experience.

1) It makes velocity of green field projects look like the team is sitting on their thumbs for weeks while they bootstrap all the infrastructure (database schema, scaffolding code, CI/CD)

2) It forces the engineering team to rush past the initial phase of the project, so they can start increasing their main KPI: velocity. When you rush, you create technical debt that you have to live with for future iterations, hampering future velocity