"But building the same functionality has undoubtedly become simpler."

I disagree with this statement. It has become simpler, provided you don't care about it actually being correct, and you don't care about whether you really have tests that test what you think you asked for, you don't care about security, and other things.

Building the same thing involves doing the things that LLMs have proved time and again that they cannot do. But instead of writing it properly in the first place, you now need to look for the needle in the haystack that is the subtle bug that invariable get inserted by llms every single time I tried to use them. Which requires you to deeply understand the code anyway. Which you would have gotten automatically (and easier) if you were the one writing the code in the first place. developing the same thing at the same level of quality is harder with an LLM.

And the "table stakes" stuff is exactly the thing I would not trust an LLM with for sure, because the risk of getting it wrong could potentially be fatal (to the company, not the dev. Depends on his boss' temperament) with those.