> open models

They are banking that a bigger model can get distilled (internally) into a more capable smaller model as opposed to training that model without having access to the bigger model in the first place. Majority of the value generation seems to be happening at the frontier though, not in smaller models, and I'm not sure that gap will shrink any time soon.

> all engineers lose their jobs

They want to replace engineers with agent swarms. At that point it stops being a tool and they can charge for outcome. They might get there, or we might still need "qualified steerers" in the future. Who knows