Eventually the costs of running inference will catch up to us, then we will see. But LLMs are really expensive and it is possible that with the incredible amounts of code they generatr it might become too expensive for them to keep up with it. There should be some kind of equilibrium which might take a while to reach but I think knowledge work won't disappear.

However many people have rightfully been saying it for years before LLMs that many so-called software engineers had no business in this field because for a lot of them it was just a way to earn more money than peers. It's not an issue by itself, just a rational human choice but the fact that it was possible was just because of unhealthy economic conditions.