Anyone saying 10x as a serious claim is clearly using a round number and vibes; however, even if it were so, AI getting popular 3 years ago does not mean what you say.
The earliest used models in this category would easily 10x (what did I just say) the creation of one-off short scripts, but you're not writing a 30-year app out of just a bunch of short scripts.
The METR time horizons graph suggests we can now get 10x (ahem) speedup on solving most coding problems that take us a few hours and about half of problems that take 2 days. Amdahl's law bites: even infinity speedup on half your problems is only 2x overall.
If you let an LLM loose, with a huge budget, what's the biggest artefact it can make before it drowns under the weight of bad decisions? The C compiler and web browser headlines a while back? The maths papers we see now that solve problems which stumped the maths world for decades?
But this is the other side of the same coin: teamwork. One person getting a thing made in twelve months vs a team of a hundred, you can scale up fast with money when you have a proof of concept, and an LLM can make a lot of proofs of a lot of concepts even in free accounts.
LLM-assisted software engineering seems to be very efficient if you have a deterministic target. (bun rewrite from zig to Rust, 100% Node.js compatibility, pnpm compatibility -- https://github.com/oven-sh/bun/pull/38333)