Agree - the phrase is logically correct.
What ever “it” is - that’s what “it” is.
(True at any time of the day - including at the end of the day.)
And, because “it” is - it is probably a “deliverable”.
Nice “dialoging” with you and thanks for reaching out.
The phrase is nothing but a tautology, no different than saying “one equals one.” Of course it does, but saying so contributes nothing to the discourse. It’s just a bunch of empty words, what my uncle used to call “moustache wash.”
The favorite phrases of a director I worked for are “at the end of the day” and “it is what it is”. He loves to combine them into the super cliché: “at the end of the day it is what it is.”