The problem is that vanishingly few people actually understand the code and are asking the agents to do all of the interpretation and reasoning for them.

This code that you've built is only maintainable for as long as you are still around at the company to work on it -- it's essentially a codebase that you're the only domain expert in. That's not a good outcome for companies either.

My prediction is that the companies that learn this lesson are the ones that are going to stick around. LLMs won't be in wide use for features but for throwaway busy-work type problems that eat lots of human resources and can't be ignored.