I think what’s clear is many people feel much more productive coding with LLMs, but perceived and actual productivity don’t necessarily correlate. I’m sure results vary quite a bit.
My hunch is that long term value might be quite low: a few years into vibe coding huge projects, developers might hit a wall with a mountain of slop code they can no longer manage or understand. There was an article here recently titled “vibe code is legacy code” which made a similar argument. Again, results surely vary wildly
It feels like it's creating economic activity in the tech sector the same way that walking down the street and smashing everyone's windshields would create economic activity for local auto shops.