Yeah, software devs will probably be pretty upset in the way you describe once that happens. In the present though, what's actually happened is that product managers can have an LLM generate a project template and minimally interactive mockup in five minutes or less, and then mentally devalue the work that goes into making that into an actual product. They got it to 80% in 5 minutes after all, surely the devs can just poke and prod Claude a bit more to get the details sorted!
The jury is out on how productivity is impacted by LLM use. That makes sense, considering we never really figured out how to measure baseline productivity in any case.
What we know for sure is: non-engineers still can't do engineering work, and a lot of non-engineers are now convinced that software engineering is basically fully automated so they can finally treat their engineers like interchangeable cogs in an assembly line.
The dynamic would be totally different if LLMs actually brodged the brain-computer barrier and enabled near-frictionless generation of programs that match an arbitrary specification. Software engineering would change dramatically, but ultimately it would be a revolution or evolution of the discipline. As things stand major software houses and tech companies are cutting back and regressing in quality.