This is what happens with every improvement in software, doesn't matter if its better hardware, improved tooling, increased libraries or simple more programmers. The increased expectations always create more, not less demand for programming. The only thing that a change in tooling does is a change in skills that are in demand and features that are demanded.
The juniors probably are most helped by these tools. I find the benefits a mixed bag. Even as a better autocomplete it (github copilot) frequently makes the most trivial grammatical errors such as unmatched parenthesis, which a 'dumb' autocomplete would never produce. And sometimes the code looks so good, it is easy to overlook that one insidious semantic error and is now costing you debugging time.
I won't be replaced by AI, but I might be replaced by a younger dev who is able to get more value out of these newfangled tools than me.