It believe the most likely consequence of AI is to promote generalists: people who have a domain expertise, can work cross discipline, and has enough programming knowledge to keep the LLMs on track. I don't think 'pure' software engineers will end up being as highly valued as the last decade though I also think that will be true for other disciplines as well. Just as an example, in signal processing, it's not uncommon to have a person designing the general algorithm and another person dedicated to implementing the algorithm in the embedded system. With the quality of coding agents, it's not really necessary to have both of those people anymore. A person who is moderately experienced in both can do the job now.