A good editor is worth their weight in gold.
I’m one of those oddballs who still respects the “old school” editor. Sure, they’ve taken some heat as of late. What with self-publishing being all the rage, many authors have seemed to rely less on the industry professional, and more on readers’ perspective. After all, your book should appeal to readers more than simply survive some editorial checklist. As a result, the beta reader has replaced the editor in many authors’ minds.
Perhaps it comes down to experience. Thus far, my experience with editors have been great. They have definitely improved my stories and made catches that were sorely needed. On the other hand are writing friends who have horror stories about working with unrelenting editors who required huge, unrealistic changes to the story. So maybe it comes down to ones personal experience.
All that to say, this individual’s opinion about editors catching a lot more than beta readers really resonated. Sure, at certain stages in a book’s life, beta readers may be valuable. But I can’t imagine anyone being as important to the production of a good story than a professional editor.