This is the same quote my dad use to tell me when I make excuses. The saying tends to go like : "There are 3 sides to a story. Their side, Your side, and the right/true/correct side".
Putting this into context with development (and being a software tester by prof. ), I would say since there are so many ways to code something it would make sense to go with "There's 3 sides to coding. Your code, Their code, and the Refactored code."
I think this is because programmers/developers tend to refactor once the product is getting stable which is mostly too late, but most of the time the refactor is done to improve something that you and buddy did not do so well in the first place.
Hope this helps.