The other problem is the perennial, how much of what we do actually has value?
Churning out 5x (or whatever - I’m deliberately being a bit hyperbolic) as much code sounds great on the face of it but what does it matter if little to none of it is actually valuable?
You correctly identify that software development is often driven by fashion and emotion but the much much bigger problem is that product and portfolio management is driven by fashion and emotion. How much stuff is built based on the whims of CEOs or other senior stakeholders without any real evidence to back it up?
I suppose the big advantage of being more “productive” is that you can churn through more wrong ideas more quickly and thus perhaps improve your chances of stumbling across something that is valuable.
But, of course, as I’ve just said: if that’s to work it’s absolutely predicated on real (and very substantial) productivity gains.
Perhaps I’m thinking about this wrong though: it’s not about production where standards, and the need to be vigilant, are naturally high, but really the gains should be seen mostly in terms of prototyping and validating multiple/many solutions and ideas.