To me the issue is that the data model should be defined in a single place. If you're using foreign keys, then the development process needs to take that into account and provide a sensible way to modify the data model in a way that the FKs keep up with the evolution of the product. It's going to mean a lot more migrations for sure.

I personally have never seen foreign keys implemented correctly -- they've captured an outdated version of the data model and are just in the way. For me, they're similar to stored procedures, usually to be avoided.