Kind Of Work In PBC

I have only 2 years experience in IT industry and I recently joined a product based company from a service based company where I used to do proper design and development work, But here in current PBC in my team we are handling a service/part of the product. Since I have joined (4 months) I have hardly done any coding, Almost all team member are working on production defect fixes and maintenance, or java spring upgrade, we hardly get any new features, I know folks in 4, 5 other teams here in my floor, All of them are in same situation. Also the process is too complex to send even a small null check fix or a sql patch that it takes 3, 4 days in testing and sending fixes to prod. Is this how the work is done most of the PBC or I am the wrong place, I don't feel like I'm learning anything here, only stuck in following processes 80% of my time. Still I see 2, 3 times a week on call starts at midnight to fix high priority production issues where we don't have any say we have to support without expecting anything in return. Hikes also got to know that it is only 4% or 6% jus like any other service based company. Is this how the work process is there in most of the product based companies ? Can anyone share some insights...