If I have to hunt down a bug or have something with a lot of touch points, yeah, there's probably less typing and more thinking.
But if it's a new mostly self contained feature usually I think for a bit, then get to the point where I know what I need to build and the next step is about shitting out a mountain of code. Being able to go from nothing -> mountain in a fast time is useful.
i never thought typing speed is all that important when you code. But he DID write crazy fast.
Shipping the same code will happen sooner if you have tooling and typing setup to allow for quick iterations, and being quick in making those iterations. Selecting a language/framework that might take more work can slow you down too.
Typing faster does seem to look towards thinking faster, trouble shooting faster.
One place where it can get someone into trouble is typing too fast, faster than it might take to think through and not over look something which might invalidate what you're doing.
I have all hires do typeracer.com. Not for a high or a low score, but seeing the development of the score and understanding the importance of typing fast relating to thinking fast.
Typing code inherently is slower than writing sentences, so if you can type faster sentences in written communication, typing code will be faster, even if it's not at the full typing speed.