Out of school for awhile, but covering low-level topics, down to logic gates, assembly, and doing floating point math manually, is not something I _use_ every day, but was crucial both when programming in higher level languages, and now using AI tools to write code in higher level languages.
It feels like there will be a beefy "middle" where people can probably drop some of that context, and get a lot of productive things done with AI. But there will still be a need for people more deeply knowledgeable and educated. It's probably just not in the proportions we have today.
_Kind of_ like the boom of coding bootcamps. A lot of people got good work done going through a coding bootcamp, but didn't get the deep background that a CS major would.
Coding bootcamps didn't mean we don't need CS education, and neither will AI, I expect. But the numbers and jobs are definitely going to change.