This was the same hype around NoCode a few years ago. Thing is people for software as a service and internal teams dont want to do the service part. A common thread among all of the vibe coded stuff I hear is that nobody talks about the next requirement which was handled. Frankly UIs are learnable and after a few tries everybody gets used to it. The extra polish is totally not worth it. Eventually every SaaS on the non-critical business path gets ripped out with one of the platform players such as SAP, SalesForce etc which are infinitely customizable. Salesforce even has its own language in which customers write their apps.

The system of record bit is quite correct and imo the only durable advantage. But that doesnt explain why Klaviyo shoyld worry. In fact marketing workflows are some of the most important systems of record directly tied to business earnings.

The assumtpion that in SaaS you build once and everybody uses it is false. There are always customizations or features that need to be built for big contracts. Its the small players that are okay with out of the box SaaS since they lack the budget to pay for a customization. Ironically, these teams will get hurt the most should they choose to go down the vibe code everything path. Here infra capex is far lower than payroll and owning too much software (vibe coded or not) will simply steal time from business development.

Honestly, the market just panicked and caused a temporary correction thats all. Then we all got busy and wrote a bunch of thought leadership crap on top.

In reality AI is the best thing to happen to SaaS companies since it reduces RnD time and expenses, allows even small players to bid for large contracts without overloading existing dev capacity and also makes it possible to put devs in front of customers since now there's no need to sit down and code. AI is also the best thing to happen to engineering since it now allows for product management to be folded into the existing craft.