It’s a terrible analysis that ignores that LLMs destroy most of the value proposition of Figma, and this is a last chance to find a bigger bag holder.
But they can be successful if you spell out the exact specifications. And what is Figma if not an exact specification of the design you want? Within a couple of years the Frontend Developer Market might crash pretty hard.
I don’t think Figma goes way, but I do see it receding.
I mean..
you can create a lot of wealth for yourself by finding the bigger fool so to speak. And arguably, that's what a lot of tech IPOs are in any case, so why single out Figma for engaging in the practice?