"you can still have that overarching governance and control"
Of course you can have proper project management, just like you can design an Access database correctly.
The only problem is that, when you put design tools in the hands of Joe Anybody, you get a project coded by anybody. From my experience, that mostly means a collection of Excel spreadsheets with buttons calling VBA code that nobody knows what it does because the guy who coded it left the company, there is no documentation, cryptic information popups and basically everyone is praying every day that the whole hairball keeps working.
So you go ahead and put process design tools in the hands of people who don't know how to code. I will be chortling quietly when reading about how your customers are frustrated because they can't make anything work properly.