Most people who have invested in the appropriate education can write code. Turning that knowledge into the products a business needs to stay ahead of the competition takes more than that. Success comes when you have people that share a common vision, that want to see the problems of the market through the eyes of the customer, and create solutions that work today and every day.
I have never worried about hiring people who CAN write code, just about whether they actually would.
Be invested in the business you support. If you aren't willing to assume some of the risk, you are missing out on the best part of being a developer.
If you don't understand how what you do contributes to the bottom line of your business, and how it adds value for the customer, I'm not sure you are really doing anything.
People don't care how software works, they only care that it works. Understanding the problem through the eyes of the customer, and speaking their language is imperative if you want to create truly excellent products.