Since I do this every campaign, I am proof this isn't true.
I have certain ideas at start of campaign of where I want to go. I am maybe lightly into "Act II", and not married to any of it -- more it's so I can foreshadow but I can change things as long as it doesn't retcon anything that has ever hit the table.
That's story-building, not worldbuilding.
Worldbuilding, the way I see it, is the process of mapping the setting, coming up with its history and backstory, designing its pantheon-cosmology-calendar-cultures-languages-climate-weather, populating it (in vague terms at least, as in "Elves here, Dwarves here, etc.), writing up some key NPCs, and then figuring out the system and-or house rules that you're gonna use to run all this*.
Only after doing all that can one consider what adventures and-or stories might suit; and as by this point you've got something concrete to present to the players in order to assess their interest, this is where you start inviting players in.
* - one can, of course, skip many of these steps by using a canned setting and playing by RAW; but I don't do that.
I had a bunch of worldbuilding and campaign themes that I shared with the players so that they could create characters that fit. Last completed campaign the players had a bunch of large world-based changes they asked. Any of them I could have veto'd or opened for more discussion/compromise. They made some huge changes to the world, and I worked those into the worldbuilding in the two weeks before the first session. Completely? No. Just like I don't have complete ideas for character arcs from receiving their backstories during those two weeks, but I can put them in a city one mentioned or work something into a starting adventure.
Again, I'm not saying allow things that break your worldbuilding. But there's so much that's orthogonal to what you have built. Does your worldbuilding prohibit that there's an Artful Dodger orphen-master in a particular city that one player wants? Then allow it. Does it have spelljammers and inter-crystal sphere trade? Well, that will probably impact too many things so I'd probably go no.
The sense I got earlier was that if a player wanted to drop a spelljammer into such a world I'd be expected to do all the required redesigning; and indeed: no.
So you see your worldbuilding only needs to deal with the changes that are already compatible with what you have, and don't need to complete integrating everything by first session, just what's going to impact that session.
I learned the hard way a long time ago that the better I've got things nailed down before the first session the easier it is to run the game thereafter. At the very least the starting town and realm, the first adventure or two, and the overarching stuff (pantheons, calendar, etc.) has to be hard-coded before the puck drops.
I can (and do) always add things in or expand on things later as the players/PCs discover new areas.