I agree with you in the general sense, but want to point out that programmer productivity is far more than writing code. I think you’ve lumped quite a bit under “productivity for the entire team”.

Debugging code and reading others code are the two big ones to point out that are usually equally important to writing good code.

I have experienced that you can compare programmers in these tasks on a micro level and see drastic different results.

Top programmers tend to not only write code with good foundations, but also have an uncanny sense for the root of seemingly obscure issues, as well as the ability to understand other code almost on sight.