At first I thought these sentences in the latest 2020 Scrum Guide contradicted each other. But after taking each of the sentences and comparing them side-by-side, I believe they now make sense to me. This is how I worked it out in my mind.
The latest Scrum Guide 2020 has the following 3 sentences:
“Developers are the people in the Scrum Team that are committed to creating any aspect of a usable Increment each Sprint.”
“The Product Owner is accountable for maximizing the value of the product resulting from the work of the Scrum Team.”
“The entire Scrum Team is accountable for creating a valuable, useful Increment every Sprint.”
The way that I interpret these 3 sentences is the following:
Developers = “Create” Increment
Product Owner = Maximize “Value”
Therefore; Scrum Team = Accountable for “creating” a “valuable” Increment.