It is easy to defend any side of the argument by inflating the "pitfalls of other approach" ad absurdum. This is silly. Obviously, balance is the key, as always.
Instead, we should look at which side the, uh, industry currently tends to err. And this is definitely not the "sitting on your incremental results" side. The current motto of academia is to publish more. It doesn't matter if your papers are crap, it doesn't matter if you already have significant results and are working on something big, you have to publish to keep your position. How many crappy papers you release is a KPI of academia.
I mean, I can imagine a world were it would have been a good idea. I think it's a better world, where science journals don't exist. Instead, anybody can put any crap on ~arxiv.org~ Sci-Hub and anybody can leave comments, upvote/downvote stuff, papers have actual links and all other modern social network mechanics up to the point you can have a feed of most interesting new papers tailored specially for you. This is open-source, non-profit, 1/1000 of what universities used to pay for journal subscriptions is used to maintain the servers. Most importantly, because of some nice search screens or whatever the paper's metadata becomes more important than the paper itself, and in the end we are able to assign 10-word simple summary on what the current community consensus on the paper is: if it proves anything, "almost proves" anything, has been 10 times disproved, 20 research teams failed to reproduce to results or 100 people (see names in the popup) tried to read and failed to understand this gibberish. Nothing gets retracted, ever.
Then it would be great. But as things are and all these "highly reputable journals" keep being a plague of society, it is actually kinda nice that somebody encourages you to finish your stuff before publishing.
Now, should have been this paper of Tao been rejected? I don't know, I think not. Especially the second one. But it's somewhat refreshing.