$skip_cache = \Drupal::config('views.settings')->get('skip_cache');
if (empty($view->editing) || !$skip_cache) {
// [caching code]
}
else {
// ...
}
The first branch (the caching) is only skipped if skip_cache is non-empty AND $view->editing is true. If I'm reading the code right, it looks as though either of these conditions should skip the cache, and therefore that || should be a &&.