If you think about code quality in terms like line length, spelling errors, etc it might not matter.
If you think of it in terms of:
- how long does it take to get at new developer up to speed? (everything from readability to build systems)
- can this be hacked any day of the week if someone puts their mind to it? (both own code and libraries)
- can we be resonably sure that new changes don't introduce (large) defects? (testing, modularization)
it becomes impossible to argue that it cannot affect business success.
Yes:
- it might work as long as the old dev is happy and alive, but break down when he isn't available anymore
- it might work as long as nobody targets this business specifically
- it might work as it exist now but at some point be impossible to update anymore and the day new tax rules or whatever are introduced, it breaks