The fact of the matter is that too many people think that projects can be run through the interface of stories and feature lists without paying attention to the quality of the software underneath. And, when you don't pay attention to it, it suffers. This, really, is _Joel's Law of Leaky Abstractions_ applied to process. Business wants to see features, and if that abstraction is their only view of the project, they will be blindsided by creeping quality issues. It's nearly inevitable.
I maintain a moderately complex application that's had features added left, right and centre over the last 5 years or so. This analogy helped me to explain to the client why we really needed to factor in some time for refactoring/cleaning up the code. I've been doing that anyway, for quite a while now (code base was a nightmare) but it was all in my own time. This was a (successful) attempt at getting the client to understand and pay for that time.