The cost of doing something wrong still is high. Even if bad code is produced instantaneously, its detrimental effect on production remains the same. Yes, yes, what fell on the floor and was picked up in five seconds is still considered fine to eat! Does not apply to eggs though. Customer trust is usually such an egg.

Writing code has become much faster. Writing correct and reliable code has become somehow faster, but not nearly as much. Understanding what code to write has barely become faster.

The more novel is the code you're writing, the smaller are gains from AI writing it.