That is completely false in my experience. I have never once seen an LLM produce code that would be acceptable. It certainly is worse than what a human can do.
I agree that LLMs produce code that is less good than what a good developer could write, but most developers are not good developers, and even the good developer gets tired and must sleep eventually.
Arguments against LLMs are like the old arguments against high level languages like C. People argued that the compiler wrote trash code, that humans could do better, that the costs weren't worth it. None of that mattered and it's the same story here.
They're not perfect by any stretch but if they're being likened to slot machines for code, I'll take those odds almost every day.