Tools like Jira often transform a product into a project, and then everything else becomes nonsense.

First, you need to slice the product into smaller chunks where each product team can have end to end responsibility. For example, LinkedIn is a platform with loads of smaller products on it. Newsletter would be one of them, search another, job posting, and so on.

It may happen that multiple teams work on the same product. When that happens, it's fundamental to have a single product backlog and organised it per goals. Make teams accountable for goals, and not output.

We tend to think on a project manner but that won't help us create products.