Where is this "90% less demand for SWEs" going to come from? Are we going to run out software to write?

Historically when SWEs became more efficient then we just started making more complicated software (and SWE demand actually increased).

That happens in times of bullish markets and growing economies. Then we want a lot of SWEs.

In times of uncertainty and things going south, that changes to we need as little SWEs as possible, hence the current narrative, everyone is looking to cut costs.

Had GPT 3 emerged 10-20 years ago, the narrative would be “you can now do 100x more thanks to AI”.