Yea one of the major up/downsides of being the PM is the buck usually stops at you. Priduct couldn’t deliver on its promises? PM is accountable. Product couldn’t sell? PM. Product getting bad press? PM. Product succeeds wildly? PM.
I would add "engineering lying to my face about the status of a highly visible product and then telling me we have 3 months worth of work left one week before launch". It really happened.