My experience has been that if you fully embrace vibe coding...you can get some neat stuff accomplished, but the technical debt you accumulate is of such magnitude that you're basically a slave to the machine.
Once the project crosses a couple of thousands of line of code, none of which you've written yourself, it becomes difficult to actually keep up what's happening. Even reviewing can become challenging since you get it all at once, and the LLM-esque coding style can at times be bloated and obnoxious.
I think in the end, with how things are right now, we're going to see the rise of disposable code and software. The models can churn out apps / software which will solve your specific problem, but that's about it. Probably a big risk to all the one-trick pony SaaS companies out there.