I largely think that we engineers are to blame for LoC being still perceived as an asset rather than a liability. We are proud of stuff we create, but it turns out that you can't describe how "big" something is without some metric, and so we fall back on the metric that is easiest to compute.

Suggestion: we should all shift our terminology, and in particular make heavy use of phrase "...and it cost N lines of code". And say what we spent those LoC on.

"I implemented new feature X, and it only cost 200 lines!"

"That bug was brutal to figure out, but in the end it only cost 6 lines of code."

"It was doing something in case X that it didn't do in case Y, and it turns out that the distinction wasn't even needed. So I fixed the problem and saved 20 lines of code at the same time!"

Lines of code are a price you pay. We don't go around bragging about how we spent $200 without any mention of what we purchased with that money. Why do we do that with LoC? "I had to pay an extra $200 because I signed up late" and "I only paid $200 for my hand-painted artisanal pottery lamp hanger. Factory-made ones cost upward of $1200 on Amazon!" are two very different statements, and map to exactly the same distinction in code.