> there has never been a shortage of higher level problems to solve.

True, but whether all those problems are SEEN worth chasing business wise is another matter. Short term is what matters most for individuals currently in the field, and short term is less devs needed which leads to drop in salaries and higher competition. You will have a job but if you explore the job market you will find it much harder to get a job you want at the salary you want without facing huge competition. At the same time, your current employer might be less likely to give you salary raises because they know you bargaining power has decreased due to the job market conditions.

Maybe in 40 years time, new problems will change the job market dynamics but you will likely be near retirement by then