The same gut reaction that causes you to go "ugh, crap code, I'm going to rewrite" is probably similar for the other developer, but with your rewritten version.
People tend to have an aversion to code they didn't write in general, and actually reading and understanding existing code tends to be a rare skill.
> Also, rewriting something is far easier than writing it from scratch.
Given the amount of times I see companies rewrite their product with half the features missing and more bugs than before, I'm not sure I agree with that.
Yup, the upfront effort to come to an implementation is like 90% of the work. Refactoring existing code is a lot easier than juggling product, design and technical requirements into a functioning solution. All the moving parts are already there to look at.
The time they spent developing the solution is a sunk cost. The only thing that should matter is whether the afternoon rewriting it is the most productive use of your time.
Also, rewriting something is far easier than writing it from scratch. Just because you can rewrite it quickly doesn't mean the original developer didn't save you a bunch of time by letting you see a workable first pass.