The key thing no LLM or AI is capable of is innovation. The basis of all their inputs came from humans. If a company needs to pivot, good leader(s) can execute that and have tremendous impact, I wouldn't trust AI to come up with that strategy.

The reason AI/LLMs are talked about augmenting/replacing people who code is because LLMs are really good at well defined, structured text output and there is a large amount of training already done. Let the LLM/AI do the tedious, repetitive parts of the work and let the engineer spend their energy on harder problems.