I work in a shop where a majority of the code is not what I would call production ready. Yet it's in production and has been for years; failing on edge cases regularly and failing on normal things mysteriously now and then. The variance of quality of code and systems that are in production in the various shops of the world is astounding and in almost every freelance gig I've had I've seen code that I would never personally allow into production. "Production ready" is a subjective concept which I've seen to mean "hobbled and dangerous" as often, or more often than "solid and safe."