Yes, they do.
The obvious one is one senior developer who writes a bunch of trash code to get stuff done in a hurry. Later is asked to maintain it and add features. But it's no fun cause it's a pile of poo. New shiny attracts his attention and he moves on (cause, you know, he delivered at his current job!). New developers try to pick it up, including a new hire, try to work with it. Warnings about runway loom. Support is swamped and many of the tickets get kicked up to developers because support can't answer because they're obscure bugs. Most of developers time is spent trying to fix the worst bugs, but things just get worse because each bug fix introduces new bugs, cause the code-base is well neigh incomprehensible. Some developers see the writing on the wall and flee, leaving even more work for the remaining developers. No money for new hires. 3 months later, layoffs. 1 month later, closed. One poor guy is laid off 4 months after being hired.
Lather rinse repeat.
The upshot is crap code makes a crap product. Just like crap engineering makes a crap car. Customer do care about that. They'll get tired of the bugs and the infrequent updates and the poor support and eventually they'll move on.