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Product environment changes..

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Hello Forum mates,

I have a below question and wanted to discuss on possible right answer.

While under development the environment in which a product will be changed. What is the effect on the product backlog?
• It is archived and a new product backlog is created to take its place
• There is no effect, because it has to stay the same until the end of the project.
• It evolves to reflect what the product needs to be most valuable
• It is converted into a requirements specification to ensure stability

I feel both are right, It evolves to reflect what the product needs to be most valuable
It is converted into a requirements specification to ensure stability

Any weight-age which is more accurate?

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