I have a node app ready which is workable, but has known and unknown bugs which crashes the node app. In such cases it would be nice if pm2 can restart the node app. Is this fea
To make app restart when it crash you have to use one of PM2 Restart strategies.
There is something called Exponential Backoff Restart Delay which PM2 explains as:
Instead of restarting your application like crazy when exceptions happens (e.g. database is down), the exponential backoff restart will increase incrementaly the time between restarts.
You can set it with CLI by
pm2 start app.js --exp-backoff-restart-delay=100
There are other restart methods also, which are mentioned here.