Can you tell me which companies you've worked for that determined developer value by the effect on the bottom line? Because I'd like to send them my resume.
Yes. Just because we all recognize that LOC is a shitty metric, doesn't mean that the industry has figured out what a good metric is. Measuring developer productivity and impact remains an unsolved problem. It still amounts to gut feel, and mostly whether or not your manager likes you or not, i.e. how much of a thorn you are to him/her.