It's the same old snake oil that has been sold for the last 40 years, just in some shiny new packaging.
"Buy our Bla-Bla-Bal-omatic system and you can hire monkeys to make your applications. Monkeys are cheap and disposable. Our patented technology will generate all that nasty code for them, and it's going to be error-free. Call this number to learn more".
Coding can certainly be tedious work. It is also a minor aspect of software development. Modern programming languages and Integrated Development Environments (IDEs) drastically reduce the amount of coding required to make an application of specified complexity.
So, what happens? The customers require ever more complex applications, which require more coding to make them. And they require ever more capable IDEs to manage that code.
The critical factors are the design of a user interface suitable for the workload, the design of suitable back-end data storage and communications methods, and testable components with proper error detection and logging capabilities. Developers must be very adept at using complex IDEs and other toolchains.
It takes intelligent, skilled people to do that work. Most people cannot do that work. AI development is not currently directed toward doing that sort of work.
I have worked with AI-generated code from recent systems. It looks superficially pretty good. Then you realize that the software libraries referenced in the code do not exist or do not contain the methods called in the generated code. And the AI gets sulky when you ask for more details.
It is smoke and mirrors.
What an AI is really good at doing is finding component code samples posted by other developers, which do something close to what you may need to do in an application. It still takes a lot of discernment to select an appropriate sample and adapt it to what you need. But the AI can find good candidate samples faster that you can search the forums for the same stuff.
If we think developers notes are bad now...let AI go a bit. LOL