My hunch is that in the long run its going to be net negative in software. A lot of companies exists as of today cause a lot of people were able to just focus on building without constantly worrying about the fear of lay off. With the concept of job security based on talent and effort being dismantled, everyone would always be in a constant look out mode now.
It's already a net negative, not just for software, but overall for humanity. The supposed productivity gains are a lie, it's causing people to be confident in information which is false, it's enabling people to treat each other like jerks in even more ways than before. AI is genuinely one of the worst things the tech industry has ever created.
That's not really true though. There were still massive issues with outsourcing and 2 or 3 recessions