It depends on how you use it.
AI helps you build more software in the same way that a C compiler helps you build more assembler.
I spend far more tokens on specification and verification than I do on actual feature-code generation.
And with it a small team of 3 developed something in just a few weeks that would have normally taken us 12 months. And we are selling it for multiple-seven figures to customers who (by all rights) should have been able to token-gen their way to the same outcome, but haven't.
So there is clearly some value in the people, and clearly some value in the AI. But I think people are misplacing/misattributing which goes where, in some cases.