I have yet to see the churn ever go down. I'm not saying it won't but what I see is that current frontier LLMs are still bad at identifying functional abstractions or patterns that can actually scale.
I have not seen an LLM rewrite 2-3 times and then settle on what sticks, it just rewrites constantly and usually while leaving residue of previous attempts behind.
Which in some projects is still fine. Like I said, they are generally producing working code, but I haven't seen proof yet that it can actually scale and evolve well over time.