Of course that is true. The nuance here is that software isn’t just getting cheaper but the activity to build it is changing. Instead of writing lines of code you are writing requirements. That shifts who can do the job. The customer might be able to do it themselves. This removes a market, not grows one. I am not saying the market will collapse just be careful applying a blunt theory to such a profound technological shift that isn’t just lowering cost but changing the entire process.
> The customer might be able to do it themselves
Have you ever paid for software? I have, many times, for things I could build myself
Building it yourself as a business means you need to staff people, taking them away from other work. You need to maintain it.
Run even conservative numbers for it and you'll see it's pretty damn expensive if humans need to be involved. It's not the norm that that's going to be good ROI
No matter how good these tools get, they can't read your mind. It takes real work to get something production ready and polished out of them
There are also technical requirements, which, in practice, you will need to make for applications. Technical requirements can be done by people that can't program, but it is very close to programming. You reach a manner of specification where you're designing schemas, formatting specs, high level algorithms, and APIs. Programmers can be, and are, good at this, and the people doing it who aren't programmers would be good programmers.
At my company, we call them technical business analysts. Their director was a developer for 10 years, and then skyrocket through the ranks in that department.
"Thinking clearly about complexity" is much more that writing requirements.
You say that like someone that has been coding for so long you have forgotten what it's like to not know how to code. The customer will have little idea what is even possible and will ask for a product that doesn't solve their actual problem. AI is amazing at producing answers you previously would have looked up on stack overflow, which is very useful. It often can type faster that than I can which is also useful. However, if we are going to see the exponential improvements towards AGI AI boosters talk about we would have already seen the start of it.
When LLMs first showed up publicly it was a huge leap forward, and people assumed it would continue improving at the rate they had seen but it hasn't.