1) You don't bother testing much. You make lots of changes, iterate quickly. Before the changes, you have code that, let's say, you know works. After the changes, you know there's probably bugs, but you don't know where.
2) You test fairly thoroughly. You make lots of changes, iterate quickly. Before the changes you have code that you know works. After the changes, you know where most of the bugs are because your tests tell you where they are.
It's the difference between walking with your eyes open or closed... it may be more work to process all that information about obstacles, but it sure is helpful if you want to avoid those obstacles.