@parcel/feature-flags enables controlled experimentation and gradual rollout of new features within the Parcel bundler. It provides a robust mechanism to define, manage, and evaluate feature flags based on various criteria, such as environment variables or user segments. This allows developers to A/B test new functionalities, mitigate risks associated with immediate widespread deployment, and gather valuable feedback before general release, leading to a more stable and user-centric development process for Parcel.