"Yes to everything!" you announce cheerfully. "The team is empowered to self-organize and determine their own capacity. That's what Agile is all about!"
Your Scrum Master nods enthusiastically. Your Product Owner adds everything to the backlog.
Week 1: The team seems confused but willing.
Week 2: The team is overwhelmed. They ask for guidance on prioritization. "You decide!" you say. "Self-organizing teams!"
Week 3: Three developers have mental breakdowns during sprint planning trying to estimate 147 story points worth of work. The lead developer starts openly laughing during backlog refinement. It's not a healthy laugh.
Week 4: The entire development team submits a joint complaint to HR about "lack of leadership" and "impossibly ambiguous priorities." They cc the CEO.
Week 5: You're called into a meeting. The team has requested you be removed from the project. They've drafted a list of grievances. It's thorough.
HR uses the words "abdication of responsibility" and "failure of leadership."
You're reassigned to "special projects" (corporate purgatory). Project Phoenix gets a new PM. The team celebrates.