The last bullet point is the most important. The industry is most hyped about AI so that they can pay software developers $70k instead of paying them $200k.

I don’t really agree that AI can’t make development faster, though. What the author describes as the negative AI outcome is blind vibecoding. There are many other ways to use it, and even the basic “enhanced autocomplete” is a net benefit, especially since that functionality is dirt cheap or free.

Not really. The other bullet points are the reality. The last one is the MBA wet dream.

We have been programmed to believe that MBA wet dreams are inevitable because "$x hundreds of billions invested can't be wrong" but they very often are.