My time spent on side projects went down close to zero just about the time I graduated and became employed full time working 40-45 hour weeks.

I don't see any problem with that though; I'm still learning a lot, and work towards switching projects/companies when that's no longer the case.

I agree completely. But in a vacuum, the developer who codes outside of work probably has more knowledge and experience than the developer who works 40h/week and goes off to other things. Even considering diminishing returns.

Yes and no. I think somebody a little more well-rounded may have other soft skills that are also important.

Yeah that's true, hence in a vacuum. If you want someone to do nothing but code - the person who codes the most often will take the cake.

You almost never want that though. Every job I've ever done involved communicating with stakeholders and team mates, working out requirements, resolving disagreements, etc.

I think there are a handful of other reasons to persue a side-project-after-work, but mostly they'll be highly self-motivated and individualistic. That's not a bad thing; it may just mean that it's not going to be something you spin into a business, but it's something that solves a need in your life, and as such you don't take very seriously.

If it means you're still learning something a little extra, that's great! If not, that's okay too.

Yeah, that's exactly what I'm getting at.