In -my- anecdotal experience, this is the excuse developers use while they write bug-ridden code without tests. Maybe they save a little time at the early stage of the development cycle, but the real reason seems to be avoiding work they don't find to be as fun as hacking out code.
After that code is hacked out, we then waste a bunch of cycles across multiple teams while we find and fix out the most obvious of their bugs.
After the release goes out, we spend even more time finding previously undiscovered bugs and fixing them -- which hits actual user satisfaction.
All because some lazy sod thought he was too smart to need tests, and that he could be trusted to decide when his code didn't require them.
Fuck that. I've been doing this too long and seen this happen too many times. If you're on my team, you write the damn tests.