It doesn’t matter whether coding was “the bottleneck”. It’s irrelevant. Fact is it used to be expensive to create software and now you’ll be to create it for super cheap. Yes, it won’t be as good. But the price will be so low it won’t matter. This is what commoditisation means. Forget the economics of software as you know it, that has ended.
This is the core insight for most businesses.
When evaluating the impact of AI on velocity, the first thing to consider is how long it takes for a one-line code change to get into production, including initial analysis and specs.
You can't get faster than this.
Being able to easy create apps means huge supply, which means commodification of software just like the commodification of physical goods. Mass supply means low prices. It won’t be economic to have artisan coders any more than to have artisan goods makers.