At least that's how it is today. But last year it was barely even worth using. Next year? Really hard to say, but it feels like it's plateauing to me. Depends on the day you ask though.
Will we be entirely replaced? Maybe. Or it'll get close enough to the "no code" wet dream of a few years back, and you'll have enough low cost LLM kiddies that the whole notion of the highly paid software engineer is just a dead end.
And then what? ... I kind of hate whatever this career is now anyway, I wouldn't mind doing something else, but I'm addicted to that sweet sweet cheese!