It is massively cheaper than an overseas engineer. A cheap engineer can pump out maybe 1000 lines of low quality code in an hour. So like 10k tokens per hour for $50. So best case scenario $5/1000 tokens.
LLMS are charging like $5 per million of tokens. And even if it is subsidized 100x it is still cheaper an order of magnitude than an overseas engineer.
Not to mention speed. An LLM will spit out 1000 lines in seconds, not hours.