This is the old "working harder vs. smarter" dilemma. When you're looking who to fund/hire, or what kind of culture to build, you can either attract people who work smarter or work harder, or both.
Working smarter is like finding an algorithm with a better time complexity. I was recently on a project where we could do it using The Architecture Going Forward That Is Always The Right Answer To Every Question, or the pragmatic way. I argued for the pragmatic way, but lost. February is the 1 year anniversary of this project. It has fallen far short of our goals, and we're now undoing the Grand Architecture way and implementing the pragmatic way, which is almost done and would have only taken 3-4 months, to achieve better software performance.
Working harder is like improving the constant: if you spend 80 hours instead of 40 hours, maybe you can get 20-40% more done.
Of course, it's great if you can get both. Working harder AND smarter. And there are a handful of people who do that. But not many, and you can't build a company full of them. Also, once people have had a lot more experience, and gained the ability to see the pitfalls before they step in them, they tend to want different things out of life, like, not working crazy hours. So you really have to choose.
My favourite movie of all time is Kurasawa's The Seven Samurai. In the movie, a very experienced Samurai has to put together a team quickly, so the "job interview" starts with the candidate walking to a room where someone tries to hit him with a pole. The first candidate is inexperienced but very talented. He parries the blow. The second candidate, as he's walking up to the room and before he could possibly see the assailant, somehow senses him and avoids the situation entirely.
I'd pick the second guy over the first guy any day.