Feature flags allow for granular, real-time control over feature releases, mitigating risks associated with full launches. By implementing a feature flagged soft launch, teams can incrementally roll out features to users and adjust the release percentage based on performance. This approach enables testing in production environments, handling uncertainties related to user experience, load capacity, support costs, browser compatibility, edge cases, and customer satisfaction. Feature flags also allow for easy control of feature releases without redeployment.