The paper isn't the end in and of itself. The end is what the paper is serving.
In the case of a class, that paper was generally a grade. So going for the good paper was obviously the superior choice. That said, I can't think of a circumstance where communicating a point wasn't an important part of a good paper. And as a history/philosophy major, essentially all of my papers were about communicating very particular points in a very clear, precise manner. Philosophy more directly structured and history more abstract, but central style not so removed from one another.
If I was doing grad level work, or looking to get published, then sure. I'd probably need to do a second draft. But for undergrad and the stuff I do for work? One draft was usually well more than what was needed. I only got lower than As on papers I
really half-assed.
The problem is that I realistically never learned how. Only one year of my 12 years of grade school English was really concerned with teaching me to be a better writer (because it was the only teacher I ever had that actively forced you to do better over time). I wrote papers on books I didn't read, without sparknotes, and got perfect grades. Because it was a skill that came easy to me.
Same thing with studying. I have literally no clue how to study. It's not a skill I have, because it wasn't one I EVER needed until college (and even then, only rarely in my highest level classes). I have no clue how you do it. I could never succeed in a law program, because I just don't have that skill, and I have no clue how to develop it.
I tried, but by the time I needed it, I just couldn't do it. That's why I did well in history/philosophy. History sucked when you ended up with an ancient professor who cared a lot about specific names/dates. But most of the professors cared that you understand and explore the narrative, and it's okay if you didn't remember if the battle of whatever was in 1657 or 58 as long as you could really discuss the importance of that battle, its causes, its effects, its players, its overarching place in history, etc.
Philosophy was about arguments. It's simple, and poetic. You study philosophy by thinking and arguing with yourself. I'm good at that.