Of course, that is the status quo for rustc (as it is for all production compilers I know of). The issues are that (1) debug builds are still slow enough to be annoying, and (2) they are sometimes _so much slower_ to execute that a debug build + test run is slower than a release build + run.
A lot of work is being done to address these issues. The big projects I'm aware of are a move to a query-based compiler (which should improve incremental build times) and the new cranelift backend, which should dramatically speed up debug build times.