Yeah, but the ratio of code to time spent is horrible for quests. It takes a long time to make a quest, and most of them can be finished in minutes since everyone just tells everyone else exactly what to do anyway. It scales up too, so if a quest is really long it took the coder that much longer to create it.
Where as with the looting system, people have gotten hundreds, if not thousands of hours from it. While I have no idea how long it took them to create, people have undoubtedly gotten more time out of it than it took to create.