Wow. That works like really poor technical leadership. Fixing flaky tests (as opposed to deleting them) is indeed time consuming, but it is a far cheaper choice than getting to the point your test suite is untrustworthy.

There may be a point where the cost of ownership for a specific test exceeds its utility, but the way to resolve that is usually to reevaluate your code and supporting tests. Suppressing flaky tests seems a very unwise choice.

Perhaps under extreme circumstances and with unhealthy code bases there may be a case for this, but I struggle to imagine it.