This article from Martin Fowler explores your point in greater depth. It's a good read: https://martinfowler.com/articles/is-quality-worth-cost.html
One concrete problem with technical debt the article highlights is it that negatively impacts the time to deliver new features. Customers today usually expect not only a great initial feature set from a product, but also a steady stream of improvements and growth, along with responsiveness to feedback and pain points.
This is true though there's only so much technical debt and internal process chaos you can create before it affects the outcome. It's a leading indicator, so by the time customers are feeling that pain you've got a lot of work in front of you before you can turn it around, if at all, and customers are not going to be happy for that duration.
Technical debt is not something to completely defeat or completely ignore, instead it's a tradeoff to manage.