Pick Any Two
I saw this image over Graphic Design and think the same excuse is made when developing software.
I know it would be impossible to keep all three categories running full-time, but I do think there are situations where teams can rise to the occasion and provide outstanding value at a decent cost by a certain deadline.
If this is you right now, see if you can impress everyone and save the day. If you are over a team that is currently dealing with this, inspire them to achieve their goals, but beware of burnout.