It already has. Those jobs PM, designer and engineer are all affected and there will not be a need for too many of them for a product feature and will be reduced over time.
While those roles will still exist, there will be a initial shock in people who once believed they were 'valuable' but the business thinks otherwise and does mass layoffs just like Block, because of let's face it; AI.
The way to still remain relevant is to absorb all three roles and build a startup with Claude Code on your side and move rapidly.