Software literacy is equivalent to: being able to drive a car, fuel it, decode the various dashboard lights when they blink, maybe change a tire and check the oil.
Software engineering is: Being a car mechanic.
So is it very useful to society if the vast majority of adults are able to drive. It is not important or worth the effort to have a majority of adults as fully trained car mechanics. Although it is good to have "on ramps" for those with the aptitude and inclination to pick it up, as a useful and paying job.
It is _now_ useful to society if the vast majority of adults are able to use a maps app, a messaging app, a word processor, maybe a formula in spreadsheet, calendar a zoom call and unmute themselves, have email and can distinguish a phishing email from real bank communications, ignore fake news on social media, etc.
The difference between a formula in a spreadsheet and full-time coding is one of degree, not kind; but you could say the same about changing a tire vs. a full vehicle overhaul.