It appears their goal is to keep you busy rather than productive (they don't trust giving you freedom). That is just a point of view, your situation might be different.
Keep in mind that whatever you are doing day-to-day has value, even if it gets thrown away. Sometimes you need to build a feature so that people can see it, react to it, and realize it is not what is actually needed. That was not wasted work, it was research. If you are doing what the business is asking of you, your job is getting done, even if you are whip-lashing around and nothing you do actually sticks.
It can be frustrating, but it helps to think of yourself as more than someone who slings code... think of it as being someone who is helping to explore possibilities.
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