Thanks for the kind words man. :)
Regarding your questions — there is no doubt that the PM should listen to his team.
Let’s ignore the team’s motivation for a sec.. We have the privilege to work in an industry of very smart individuals. Simply ignoring the team’s voice it’s not only dumb. It’s a sin (reminder — the team members are the people who actually work on the product constantly and knowing it upside down).
But this answer has a broader perspective — Ideas can come from various places (Survey’s, Interviews, Data, Management, Team members, Marketing, Other PM and whatever else..).
It’s up to the PM to analyze each idea and try and assess what it will accomplish, if it is correlated with the desired Metrics (Retention, Conversion etc.) and if it correlates with the Product’s character (obviously adding a Black-Jack feature will make money, but not sure that it’s relevant to our Anti-Theft application :) ).
Bottom line — Prioritization is a cold and ruthless business. TMHO a good PM should take cold analytical decisions. On one hand, the PM should not fall in Love with his own vision, while on the other hand he should not push forward ideas just for the sake of making someone happy.
I hope that i answered your question there (and thank you.. i think i have a topic for my next post :) )