I disagree, it doesn't have to be "paid off", no one is waiting for the "money". Rather, design and code decisions may need to be addressed in the future to all

I disagree, it doesn't have to be "paid off", no one is waiting for the "money". Rather, design and code decisions may need to be addressed in the future to alleviate development friction. I have worked in places as you describe, and tech debt is still a bad analogy. It isn't debt, but rather friction, which is a much better analogy.