Somebody who produces 2x at same quality of work is worth 2x the other person, fairly objectively.
It's common to find people who produce up to 10x the average. Anyone in a startup or growth oriented company is smart to optimize for these people.
The most proficient and fast coders often write higher quality code too, in my experience.
People who over index on comp sci theory often are lacking in theory underlying good code. But it's not mutually exclusive. Just that if you have to optimize for one, coding proficiency matters much more for startup or growth type companies.
Exception might be like an AI/ML based startup with a lot of theoretical challenges. Most companies much more business/rule oriented though