No it's not. This has always been a needlessly iconoclastic rather than sensible suggestion. At the very least it is not once you're working at the wrong kind of scale. Once you have an awkward number of customers (more than five and less than a hundred), maintaining duplicated code that should have been abstracted and modularised will only seem cheap if you don't mind that you burn through even junior employees at a…
Code duplication is cheaper than the wrong abstraction. If you have a good abstraction, you should run with it. If you haven't figured out a good abstraction at 5-100 customers, God help you.
Half of your abstractions are wrong. The hard part is knowing which half.