I was highly skeptical of this happening not that long ago, but I have to say that it seems increasingly likely. LLMs are still quite mediocre at esoteric stuff, but most software development work isn't esoteric. There's the viable argument that software development largely isn't about writing code, but the ability to write code is what justifies software developer salaries, because there's a large barrier to entry there that most just can't overcome. The 80/20 law seems to apply to everything, certainly here - 80% of your salary is justified from 20% of what you spend your time doing.
It's quite impossible to imagine what this will do to the overall market, because while this sounds highly negative for software developers, we're also talking about a future where going independent will be way easier than ever before, because one of the main barriers for fully independent development is gaps in your skillset. Those gaps may not be especially difficult, but they're just outside your domain. And LLMs do a terrific job of passably filling them in.
It'd be interesting if the entire domain of internet and software tech plummets in overall value due to excessive and trivialized competition. That'd probably be a highly disruptive but ultimately positive direction for society.
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