That may be good enough for consumer facing systems. Rewrites seldom go well for enterprise systems of record because the code embodies a lot of undocumented but critical requirements. If you start vibe coding from a clean slate then all of that knowledge is lost and you've created an even bigger problem.

I don't think that needs to be true either anymore. Exhaustive specifications and comprehensive test suites are easily created now too. That's why I think software engineering will not go away, it will just change drastically.