I think it's a balance that each person has to set to the "right" level for them based on the stage of their career, and the trajectory they would like it to take. What's "right" for someone who wants to become a project manager is different than what will be "right" for someone who wants to be an architect or strike out and found their own company.

This topic is of some interest to me - I am co-authoring a book called "evergreen skills for software developers" https://evergreenskills.com/ and delivered a talk at a local developer conference on it about a year ago https://jcooney.net/post/2018/10/evergreen.html