Cognitive scientists like Margaret Boden used to break creativity into three different categories: combinatory, exploratory, and transformational. It looks like a lot of our programming tasks are really combinatory and exploratory. Yes, they can be deemed novel and creative by individuals, but collectively they are standardized. It's just like finding integrals used to an art, but nowadays Mathematica can do it better to most of the integrals. Mastering special functions used to be the key to solving tricky PDEs, but nowadays few engineering students need to spend multiple semesters learning them. Quasi-RH was considered a Fields-level hard problem, yet AI could brute-force a proof with elaborate estimates. We humans have a brain that can process only a few variables at a time and it took ingenuity and years of effort to master a series of concepts before using them to solve a problem, but that could be just the cost of knowledge transfer, which AI can drive to zero in many cases.
However, the need for creativity does not go away. It just moves more to the transformational category. In addition, our craft will shift to arguably a less romantic tier: problem formulation, verification, and grounding. It will be a painful transition to many people, me included, but we have no choice but to adapt.
Note I'm not ignoring the economical impact of AI. It's very possible that lowering the cost of producing code increases the aggregate appetite for software, but the demand of software engineers can still go down. Even if total code volume explode tenfold, the labor market may not absorb displaced engineers. I wish there are solutions to this pain, but I fail to see what they are.