I agree. It's the current generation's version of what happened with the advent of Javascript frameworks about 15 years ago, when suddenly web devs stopped learning how computers actually work. There will always be high demand for software engineers who actually know what they're doing, can debug complex code bases, and can make appropriate decisions about how to apply technology to business problems.
That said, AI agents are absolutely going to put a bunch of lower end devs out of work in the near term. I wouldn't want to be entering the job market in the next couple of years....