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No. I said they spend, on average, as much time turning a manuscript in to a book as the author does writing the manuscript. It's a common misconception that all a publisher does is have someone drag a Word doc in to the print cue, and that's it. All manuscripts get edited - there's always revisions and multiple drafts. Then there's proof reading, type settings (and that's more complicated than you imagine, too), arranging printing, shipping ,etc. And marketing. Because nobody will buy a book they don't know exists.
And I and not the one saying this. Industry professionals are. Again, go read Charlie Stross's blog. He's not the only one, but his blog is the most accessible, and goes in to details.
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This simply isn't true in more than a few cases. I've talked to multiple, traditionally published authors who have had books submitted directly to copyediting--true, one was 'orphaned' (that means his original editor quit and his book was still going to be published) but at least two others had been told, 'Your other books were pretty clean. We're behind schedule, it will get copyedited only.'
I know of one author who was with a medium-sized publisher who was told, "the copyediting has gotten too expensive. If you want it done, you'll have to pay for a contractor to do it.'
I could go on, but these are writers I have talked to IN person, at length about their experiences. It happens all the time and two that come immediately to mind were with large publishers. Not every book gets tons of vetting. Not every book gets several drafts. Not every book gets a lot of attention. The industry professional are not going to be the ones to tell you this.