Could be for good reasons (e.g. they're security features that are important to the business but add friction for the user) or just because management is disconnected from the reality of their employees. Either way, not necessarily the wrong decision by the PM - sometimes you've gotta build features fast because the buyer demands them in a certain timeframe in order to get the contract signed. Even if they never get used, the revenue still pays the bills.
Security features that add friction for the user are usually forced, aren't they?
Contract requirements do make sense, but I get the idea that this user would know that.
What are you imagining that would be actual value but not used for six months?