Magically, spending money on datacenters and gear makes working code fantastically appear from the aether and so engineers can be paid the same as janitors. That's what the suits believe now.

Yeah, irony put asisde, I believe that the reality is that people who already have power will consolidate it even more. Regardless if you were an average engineer, mid-level manager, consultant, whatever, you will be thrown under the bus any day. People can make up any identity and philosophy of entrepreneur/vibe engineer/manager/hardcore engineer/guy who run away to trades/anything but it doesn't change the fact that an average Joe is economically not viable in the current setup and he can't do anything particular to turn the tides.

They can believe whatever they want but the reality will hit them soon enough.