They would much rather confidently repeat a date that is totally unfounded rubbish which will have to be rolled back later, because then they can blame the engineering team for not delivering to their estimate.
In Australia, an SDE + overhead costs say $1500 / work day, so 4 engineers for a month is about $100k. The money has to be allocated from budgets and planned for etc. Dev effort affects the financial viability and competitiveness of projects.
I feel like many employees have a kind of blind spot around this? Like for most other situations, money is a thing to be thought about and carefully accounted for, BUT in the specific case where it's their own days of effort, those don't feel like money.
Also, the software itself presumably has some impact or outcome and quite often dates can matter for that. Especially if there are external commitments.
1. Think about what product/system you want built.
2. Think about how much you're willing to invest to get it (time and money).
3. Cap your time and money spend based on (2).
4. Let the team start building and demo progress regularly to get a sense of whether they'll actually be able to deliver a good enough version of (1) within time/budget.
If it's not going well, kill the project (there needs to be some provision in the contract/agreement/etc. for this). If it's going well, keep it going.