Scathophagidae are flies that really like eating shit. We know how to cheaply produce massive amounts of shit.

But that doesn't mean we solved world hunger. In the same way, AIs churning out millions of lines of code doesn't mean we have solved software engineering.

Actually, I would argue that high LOCs are a liability, not an asset. We have found a very fast way of turning money into slop, which will then need maintenance and delay every future release. Unless, of course, you have an expert code reviewer who checks the AI output. But in that case, the productivity gains will be max 10%. Because thoroughly reviewing code is almost the same amount of work as writing it.