Not OP, but:

1. At my level, the company is not just paying me to do a task the way they want it done, they are paying for my experience to orchestrate the best way to do it. They want an outcome, and I'm responsible for figuring out how to get to that outcome with the right balance of cost, correctness, etc. But yes, the most dystopian reality is what you said.

2. It's not useless, but the AI generated code is absolutely lower quality than what I would have written myself, but there is no desire to clean it up. Companies have always had a disastrously bad understanding of technical debt and they finally have tool they can shove down developers throats that trades even more velocity for even less quality. They're going to take that trade every single time.