I honestly think this is definitely where (at least part of) the industry is heading, yes.
This is not to say engineers are getting replaced — but, certainly, they are changing their work. And, sure, maybe _some_ of them are being replaced. Not most of the ones I know, though. They are essential to orchestrate, curate, maintain, and drive all of this.
(Now, do they want to orchestrate it? Whole different story...)