I think the SaaS landscape will look vastly different in five years.
These people are deluded and have never operated a business enterprise themselves.
if the cost of AI doesn't decrease, between skill atrophy and personnel shortages, this will create massive technical liabilities that companies will need to pay incredible amounts (to contractors, or, likely, to SaaS incumbents) to fix.
if the cost of AI does decrease, then every function those companies AI-code themselves is basically horse trading those SaaS companies with big AI.
(open weights models are improving, but most of the SOTA open-source models are from Chinese labs, the huge companies that will make a dent in SaaS revenue are restricted from using them, and the American labs have a profit motive to prevent their open-weight models from reaching parity with their closed-weight models.)