In my view, it has aspects of both leadership and development.
You need to direct agents to do work worth doing and then you need to understand the output. Some of the emotional parts of management are gone since agents don't care if you tell them to throw everything away and take a different approach. Some of the therapeutic parts of development are gone since you don't need to hand craft a clever code structure.
I wouldn't say it's more like one or the other though. One of the most important jobs of a leader is finding work worth doing for their team. One of the most important jobs of a developer is ensuring system cohesion. Both of these are hard jobs.
To me, AI failure cases look like doing either of these jobs poorly:
1. Writing a big pile of tools that really provides no user value
2. Not reading the code and ending up with broken systems