Greg, the creator of ReadMe.io, emphasizes the critical importance of code documentation, especially in the era of connected services where developer collaboration can significantly enhance a product's functionality and reach. He acknowledges the challenges and often overlooked nature of documenting code due to pressing deadlines and the focus on product functionality. However, Greg argues that building a user-friendly public API and engaging developer communities through collaborative hubs, like ReadMe.io, is crucial for business growth. These developer hubs should not only serve as reference sections for APIs but also as tools to onboard, orient, and strengthen relationships with developers. He suggests that various team members, including those from product marketing and management, should contribute to documentation, thereby allowing engineers to focus more on development. Regular updates and a shift from traditional documentation methods are encouraged to maintain effective communication and collaboration with the developer community.