In terms of the standard 4X convention, I understand that setting your economy at one "throttle" and then leaving it to run can be a bit frustrating. Ever since I first played Civ I, that's the way I've managed my colonies. Those of us used to more granular control enjoy that fine-tuning.
That said, I'm now going to venture onto some very thin ice: I'm going to try to compare the "realism" of various 4x control options for different types of building, etc.
It's at least plausible to argue that, as the head of a Civilization, you are NOT the omnipotent controller of every individuals' effort. The only widespread governments ever invented that have tried to tell all their people exactly what to do have been er, rather disastrous failures.
Whatever motivates a society to do all the things it does, it's not up to the mayor, or the governor, or the President of that country, even with a 100% approval rating!
At the same time, a countries' priorities do change. Without trying to get too abstract (which I probably am already anyway!), it's reasonable to assume that, for whatever resaon, a society might shift its efforts from one sphere into another sphere in a hurry (think of America after the Japanese bombed Pearl Harbor, if you want a historical cliche). This isn't a carefully and surgically controlled operation; it's a massive reprioritization of how a society allocates its resources. Sometimes that reprioritization is more efficient; sometimes it's less efficient, but it's seldom carefully calibrate to ring every last drop of sweat out of every possible citizen!
The fact of deficit spending looms much larger in this game than in most, but I'm not sure that's a bad thing so much as it is just a thing. You can always tell if you're running a deficit, because your currency counter goes yellow. If you're building up your BCs, it's green!
But I think I'm getting lost in the detail. I'd just humbly suggest that, while it doesn't follow the "city-specific" convention that's been in place 15+ years now, it seems to be about as plausible as anything else.