I've heard this double-standard before, and it sounds plausible at first glance, but is quite demonstrably nonsense.
1) Automated tests are software
2) Engineers aren't paid to produce software (nobody would pay me to auto-generate a billion "hello world" programs per second). Engineers are paid to solve problems and/or create value. Tests solve problems (finding bugs, demonstrate usage, clarify thinking, document intent, etc.).
3) Software is a liability, not an asset. We should produce as little as needed, and delete it if possible.
4) Engineers aren't paid to perform manual testing (running commands over and over, clicking around web forms to see what happens, etc.)