A chef can cook a steak better than a robo-jet-toaster, even though neither of them has raised the cow.
It's not about having abstraction levels above or below (BTW, in 21st century CPUs, the machine code itself is an abstraction over much more complex CPU internals).
It's about writing a more correct, efficient, elegant, and maintainable code at whichever abstraction layer you choose.
AI still writes messier, sloppier, buggier, more redundant code than a good programmer can when they care about the craft of writing code.
The end result is worse to those who care about the quality of code.
We mourn, because the quality we paid so much attention to is becoming unimportant compared to the sheer quantity of throwaway code that can be AI-generated.
We're fine dining chefs losing to factory-produced junk food.