Is it really that different to put that energy into new features? I guess you lack the 'archaeological' aspect of deciphering old code, but there are still plenty of challenges.

I think it's also implied that, in a situation where technical debt isn't appreciated, it's unlikely that resources would be given to pay it down. Instead, it sits there making all work more frustrating, whereas a shop with minimal technical debt spends more time creating new, more robust, code.