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For me it's hard to imagine not starting on the second PR after submitting the first one, regardless of AI or stacked PRs. For focused work I find it important to avoid context switching, stay in the zone and keep everything in my head. Wasted work in comparison feels less significant to me.

If review is fast I'd be switching back and forth between tasks throughout the day. If review is slow I might end up implementing a feature over the course of two weeks rather than two days. With reviewers in different time zones, limited time or doing their own focused work, it adds a lot of latency going back and forth for every PR rather than iterating on a stack of PRs.

Personally I find the biggest benefit is that it lets both the author and reviewers work at the pace that works for them, with reduced context switching and latency.