What matters is what "investors" and bean counters believe to be true. Not much relief in knowing that they are wrong, when you lose your job or your working conditions suddenly become much worse.
AI can replace devs or they can't. And it is sort of weird that people think about how many lines of code they output.
It is weird, because it has been a very long time that writing lines of code is far from being my main activity, even if it is the part of the job I like the most. I wonder where exactly people work where this is their main activity if they are not junior developers anymore.
Yeah, LLMs are sort of useful at spitting out code, if you know how to code. It can output code faster than you, and if you have good domain knowledge you can proofread it for the inevitable bullshit/bugs.
That's about it. Even to write decent prompts to guide it you need to understand well the domain to get it working.