I think both are important.
But definitely quality > effort for me.
Cos like.. person A can spend 2 days on a piece and have it look honestly no where near 15k, but price it as such because "they tried" and they "worked hard on it".
Whereas person B can spend 2 minutes and produce exactly the same thing that person A produced in 2 days.
At the end of the day it isn't about who worked harder or longer hours, it's about who produced the better results. Because from the end result you can easily tell who has more experience etcetc.
If this were school and we're just focusing on personal growth and development etc., no money involved, then yes. Sure, effort > quality.
But here we're talking professional and charging for your products and services, so imo, quality > effort.
I normally charge the same price for both.
Like if I'm offering 160x220 edits in customs section, but in the premades section I made some 160x220 edits to sell, I would price my premades the same as I price my customs. Same as if I offered paintings in customs and made a painting to sell as a premade, I would price them the same.
And a few of my friends do this ^ as well.
There are definitely times when the price can fluctuate though, so it's not as if your pricing has to be absolute and set in stone.