Yes, they are still making that much. I am. I don't fully understand why yet but I think it is because of a few reasons:

1. We still need to keep the lights on. If things go wrong, which they still do, humans have to debug it.

2. Jevon's paradox: now the expectation is that we ship stuff faster and there is still a LOT of stuff to do, not less.

3. We are still in the very early days of this and it is too soon for corporations to make a dramatic call like laying off 80% of engineering. We just don't know how that would look like.