I find it useful. A nice little tool in the toolkit: saves a bunch of typing, helps to over come inertia, helps me find things in unfamiliar parts of the codebase, amongst other things.

But for it to be useful, you have to already know what you're doing. You need to tell it where to look. Review what it does carefully. Also, sometimes I find particular hairy bits of code need to be written completely by hand, so I can fully internalise the problem. Only once I've internalised hard parts of codebase can I effectively guide CC. Plus there's so many other things in my day-to-day where next token predictors are just not useful.

In short, its useful but no one's losing a job because it exists. Also, the idea of having non-experts manage software systems at any moderate and above level of complexity is still laughable.