Not entirely unlike other code generation mechanisms, such as tools for generating HTML based on a graphical design. A human could edit that, but it may not have been the intent. The intent was that, if you want a change, go back to the GUI editor and regenerate the HTML.
We largely moved back away from "work in a graphic tool then spit out HTML from it" because it wasn't robust for the level of change/iteration pace, this wasn't exactly my domain but IIRC there were especially a lot of problems around "small-looking changes are now surprisingly big changes in the generated output that have a large blast radius in terms of the other things (like interactivity) we've added in."
Any time you do a refactor that changes contract boundaries between functions/objects/models/whatever, and you have to update the tests to reflect this, you have a big risk of your new tests not covering exactly the same set of component interactions that your old tests did. LLM's don't change this. They can iterate until the tests are green, but certain changes will require changing the tests, and now "iterating until the tests are green" could be resolved by changing the tests in a way that subtly breaks surprising user-facing things.
The value of good design in software is having boundaries aligned with future desires (obviously this is never perfect foresight) to minimize that risk. And that's the scary thing to myself about not even reading the code.
So I think this question needs to be asked in the context of particular projects, not as an industry-wide yes or no answer. Does your particular project still need humans involved at the code level? Even just for review? If so, then you probably ought to retain human-oriented software design and coding techniques. If not, then, whatever. Doesn't matter. Aim for whatever efficiency metric you like.
I would guess that >90% of all web crud can already be done better by an LLM managed by a decent developer, than purely by the developer himself.
The difference being that compilers and related tools are deterministic, and we can manage the outputs using mathematical proof of correctness.
The LLM's driving this new abstraction layer are another beast entirely.