Maybe for some subset of sotware (like CRM panels or something) PMs will do everything. But if you're projecting the way one sort of software (ie user-facing, business use oriented software) is developed and put to use with software writ large, then no I don't think so

Sure, I'm just talking about 90% of software which is basic CRUD, not complex systems or microcontroller programming. In that case it's likely that just a PM could build something with LLMs.