Nobody is arguing for writing bad code. We shouldn't merge bad code into production, and if the fix is simple then the Boy Scout slogan applies: "Leave the code cleaner than you found it."

Here, I'm talking about undertaking a major refactor on a component that is working fine and not blocking new features. That tradeoff is fairly clear in my mind - if we don't need to rewrite the implementation, then we're just wasting time if we do it.