This is just not true in my experience. Not with the latest models. I routinely manage to 1-shot a whole "thing." e.g. yesterday I needed a Wordpress plugin for a single-time use to clean up a friend's site. I described exactly what I needed, it produced the code, it ran perfect first time and the UI looked like a million dollars. It got me 100% of the way in 0% of the time.
I'm the biggest skeptic, but more and more I'm seeing it get me the bulk of the way with very little back-and-forth. If it was even more heavily integrated in my dev environment, it would save me even more time.