Good question! One consideration: in many cases, mentorship may not trade off directly against direct work. Many people report that there is a limited number of hours of research/writing/'deep work'/hard thinking that they can do in a day (people often say 2-5 hours); but they can do other, not so focussed work on top of that. This is certainly the case for me! (Not that I'm a senior researcher). I suspect this is why in academia, it's customary for professors to both research and teach - they wouldn't spend all their time researching anyway.
So, while it's certainly possible for mentorship responsibilities to be distracting and seriously trade off against research, I suspect that with the right balance, many researchers will be able to do research at their full capacity and also do a limited amount of mentorship.
Meta-comment - this is a great question. Probably there are many similar questions about difficult prioritisation decisions that EAs normally try to solve individually (and which many, myself included, won't be very deliberate and systematic about). More discussions and estimates about such decisions could be helpful.
Agree. I guess most EA orgs have thought about this. Some superficially and some extensively. If someone who feels like they have a good grasp on these and other management/prioritization questions, writing a "Basic EA org handbook" could be pretty high impact.
Something like "please don't repeat these rookie mistakes" would already save thousands of EA hours.
Max Dalton (CEA) gave a talk about this at EAG London 2021 - help find your dream colleague, going through the pros and cons and giving some arguments for using some of your time for mentoring.
thanks for the link!