The thing is, the 100x can't be in all the verticals, speak all the languages, be a warm body required by legislation, etc, etc. Plus that 100x just became a 10x (x 10x) bus factor.

This will reduce demand for devs but it's super likely that after a delay, demand for software development will go even higher.

The only thing I don't know is how that demand for software development will look like. It could be included in DevOps work or IT Project Management work or whatever.

I guess we'll see in a few years.