Not all software development will be automated immediatly. But I've noticed that many skills I've built are lessened in worth with every model release.

Having a lot of specifics about a programming environment memorized for example used to be the difference between building something in a few hours and a week, but now is pretty unimportant. Same with being able to do some quick data wrangling on the command line. LLMs are also good at parsing a lot of code or even binary format quickly and explaining how it works. That used to be a skill. Knowing a toolbox of technologies to use is needed less. Et cetera.

They haven't come for the meat of what makes a good engineer yet. For example, the systems-level interfacing with external needs and solving those pragmatically is still hard. But the tide is rising.

The capitalists and industrialists have waited for centuries to get rid of paid labor. Imagine the profits once the cost of human work gets out of the loop!

Of course the question that is left unanswered is how the economy will work there's no one left with purchasing power. But I guess the answer to this is, the same way it works now in any developing country without much of a middle class.