Yes and no. Crazy, made up deadlines will throw even the best developer off. They want to, fist and foremost get it done. If everything else is irrelevant, then that's what you will get. Of course that ends up being bad for everybody, but many businesses still don't have a clue on how to operate their most important department. Sometimes you have a hard deadline that you just can't help like a mission critical bug, or the VP of sales promised your most important client an impossible date and there are fines involved.
I'm a firm believer of setting aside time for refactoring every X number of releases. That solves a lot of this.
Impossible and strict deadlines simply because of cost control is shooting yourself in the foot.
Impossible deadlines because of a really important deal worth actual money, is probably worth sweating over,at the risk of code quality. If all projects tend to be the latter case, it's probably actually the first case packaged as the second...
Sure, sometimes it's just a matter of survival. Get this code released by this date or we sink. That's an unfortunate place to be in, requires a lot of focus under stress and is rarely rewarded. It's gratifying for me to be successful in those circumstances, but too many of them and I have to find a saner place to work. Management starts to take miracles as the norm by planning them (if they even do) and it leads to burnout.
I'm a firm believer of setting aside time for refactoring every X number of releases. That solves a lot of this.