Is writing software in the absence of requirements a skill to possess or a situation I should avoid?

Question

I find that some software developers are very adept at this, and often times are praised for their ability to deliver a working concept with abstract requirements. Frankly, this drives me crazy, and I don't like "making it up" as I go. I used to think this was problematic, but I've started to sense a shift, and I'm wondering if I need to adjust my thought (and programming) process when given very little direction. Should I begin to acquire this ability as a skill, or stick to the idea that requirement's gathering and business rules are the first priority?