I'm sure it will go in the worst way possible: demand for code will not expand at nearly the same rate in which coding productivity will increase, and vast majority of coders will become permanently jobless, the rest will become disposable cheap labor just due to overabundance of them.

This is already happening.

AI had an impact on simplest coding first, this is self-evident. So any impact it had, had to be on the quantity of software created, and only then on its quality and/or complexity. And mobile apps are/were a tedious job with a lot of scaffolding and a lot of "blanks to fill" to make them work and get accepted by stores. So first thing that had to skyrocket in numbers with the arrival of AI, had to be mobile apps.

But the number of apps on Apple Store is essentially flat and rate of increase is barely distinguishable from the past years, +7% instead of +5%. Not even visible.

Apparently the world doesn't need/can't make monetisable use of much more software than it already does. Demand wasn't quite satisfied say 5 years ago, but the gap wasn't huge. It is now covered many times over.

Which means, most of us will probably never get another job/gig after the current one - and if it's over, it's over and not worth trying anymore - the scraps that are left of the market are not worth the effort.