I suppose that's true part of the time, but I think that placing an overemphasis on production can stifle creativity and spontanaiety. For some artists, it's better to "strike while the iron is hot," so to speak. For musicians that very prolific, this is especially true. If you can write 100 great songs in a year (I can't, but I'm sure there are people who can), you probably can't afford to spend thousands of dollars recording every single one of these songs in a fancy studio and adding mellotron, harmonium, timpani, gong, gamelan, cello, xylophone, etc. to each one. What I'm trying to say is that the immediacy and easiness of "lo fi" recording pays off for some people. I personally would rather listen to an excellent song with mediocre production than a mediocre song with excellent production, and I think most music fans would agree. For many people, the song is more important than having crystal clear sound.