The point of the article is that sometimes the "old ways" really means "not particularly profitable or necessary in the short term" but the bill comes due in a crisis. The reason US/EU manufacturing was "the old ways" is that people could make easier money with financial engineering, an insight that extended all the way to Raytheon.
COBOL is a bad example, but higher-level languages vs. assembly is not. If you write a lot of C you really don't need to know assembly.... until you stumble across a weird gcc bug and have no clue where to look. If you write a lot of C# you don't really need to know anything about C... until your app is unusably slow because you were fuzzy on the whole stack / heap concept. Likewise with high-level SSGs and design frameworks when you don't know HTML/CSS fundamentals.
As the author says maybe AI is different. But with manufacturing we were absolutely confusing "comfortable development" with "progress." In Ukraine the bill came due, and the EU was not actually able to manufacture weapons on schedule. So people really should have read to the end of "building a C compiler with a team of Claudes":
The resulting compiler has nearly reached the limits of Opus’s abilities. I tried (hard!) to fix several of the above limitations but wasn’t fully successful. New features and bugfixes frequently broke existing functionality.
At least with Opus 4.6, a human cannot give up "the old ways" and embrace agentic development. The bill comes due. https://www.anthropic.com/engineering/building-c-compiler
But these are hard IT things a human programmer really struggles with as well. What % of software written is that? Very very low. Most software is dull and requires business vagueness to be translated into deterministic logic and interfaces; LLMs are pretty great at that as it is. If humans use their old ways to fix complex problems and llms do the rest, we still only need a handful of those humans. For now.