As other stated in their answers, quality is very important from a technical point of view.
But quality is also very important for motivation. If your boss asks you to make shit, on the long run, it will destruct you. Imagine yourself in a drink answering the question "what do you do?" you won't answer "I write shit for a insane manager" isn't it? But you will think it loudly...
I think that the key in organization is making its employees proud of what they make.
That said, quality can be one of the four factor that you would reduce in order to get to the market. Four factors are resources, time, scope, and quality.
I've once worked on a project where resources was limited, scope vital and deadline fixed to tbe first if january by a contract that would have make that company loose millions every minutes of late.
The decision has been made to do our best but withou considering quality over time & scope.
The application generated enought profit on its first hour of run to paid back past development AND the complete rewrite that was planned afterwards.
Conclusion: quality IS very important, but sometimes, business priorities requires you to reduce it for the well being of the whole organisation.