Smoke tests and unit tests do different jobs, and calling unit tests low value is backwards unless your code almost never changes. If you skip automated tests because they are "expensive", you are betting release quality on hope and a lot of repeat work.
Why are unit tests very expensive? This goes against everything I know.
Then there is the danger of thinking that green=all good, an example of 'automation bias' where we learn to trust the automation even as things go wrong.
As makers, it is also tempting to believe that [all] problems can be solved by making something (i.e. code), but actually many problems are not of that nature, and cannot be solved in that way.