With experience, you also learn better ways to express your intent in the languages and frameworks you know well. Inexperienced, high energy devs will just be fast at writing boilerplate.
Remember when MongoDB, for example, was widely assumed (by the inexperienced, mostly) to be the obvious data storage tech for building virtually any web-facing application? Now, after wide experience with formerly-shiny Mongo, it's viewed as just one among many alternatives for reaching "web scale".
There is no programming, reliability, stability, or scale. Most greener engineers program mostly for the sunny day scenario, which is the crux of the problem.
They can't see race conditions and timing problems like someone how have spent years doing that. I see other people's code and quickly understand that they're doing really cost prohibitive queries while others who are green will never notice it.
For some definition of cheap. If you look at $/hour, no question they are cheaper. If you look at $/amount of value created (which is far harder to capture, but worth it), I don't think it is a slam dunk.