I think LLMs/coding agents in particular are going to play out like automation always does.
1. You have a task and it requires an expert to perform it (software engineering, where we were) 2. You automate the task, it still requires the expert to babysit it (where we are now) 3. Management works out that the expert is just monitoring what the automation is doing and has actually lost expertise because they are just watching, not doing. Pay collapses. (where we are going)