I agree that it is a useless statistic, especially when comparing unit vs integration vs functional vs smoke testing. There are different types of tests and just because you are reaching 90% of your code does not mean you are thoroughly testing it.

The only reason I brought it up was to show that we don't skip test writing entirely and the projects where we do write them, it isn't like we just wrote a test to check that "Project Name" is returned on the homepage and called it a day.