But if you are going to buy a house, you have better know how many m^2 it has, instead of relying on subjective impressions of size.
I'd say just the opposite. If you're looking at the house, your subjective impression of size is what really counts. The square meters in the listing are a cheap estimate -- cheaper than visiting the house -- of how spacious it is.
And so it is with LOC. If you're asking what it would cost to duplicate the development of 2.6.20 from 2.6.19, getting a bunch of professionals to look at the function and give their impression of how many person-hours it would take would be a lot better than counting LOC, but LOC is much cheaper. And history shows that the quality of the estimate you get by multiplying by LOC is quite acceptable.
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