It depends what environment you're operating within.
I've used LLMs for code gen at work as well as for personal stuff.
At work primarily for quick and dirty internal UIs / tools / CLIs it's been fantastic, but we've not unleashed it on our core codebases. It's worth noting all the stuff we've got out of out are things we'd not normally have the time to work on - so a net positive there.
Outside of work I've built some bespoke software almost entirely generated with human tweaks here and there - again, super useful software for me and some friends to use for planning and managing music events we put on that I'd never normally have the time to build.
So in those ways I see it as massively increasing productivity - to build lower stakes things that would normally just never get done due to lack of time.
I do wonder about the second order effects of the second bit.
A lot of open source tooling gets created to solve those random "silly" things that are personal annoyances or needs. Then you find out others have the same or similar problem and entire standard tooling or libraries come into existence.
I have pontificated on how easy access to immediate "one offs" will kill this idea exchange? Instead of one tool maintained by hundreds to fulfill a common need, we will end up with millions of one-off LLM generated that are not shared with anyone else.
Might be a net win, or a net loss. I'm really not sure!