Yes, but you’re just reiterating the basic Luddite argument, and taking IMO a blinkered perspective by looking at it from the perspective of a single firm rather than the economy as a whole. Often, increasing labor productivity in a given category actually increases the total quantity of such labor demanded in the economy due to the Jevons effect. If you increase output per worker by 10x, sometimes the product becomes cheap enough that the quantity demanded goes up by 100x and the economy ends up needing 10x as many workers. (Numbers for purpose of illustration of course.)

In other words, sure, there’s a limiting factor in terms of how much software the world actually wants, but the more software we can produce per programmer, the cheaper software gets and the more software the world wants. There is still eventually a limit here, but it is a lot farther away than it looks.