I don't agree with OP's specific story as such. I think by the time you have the level of AI capability that they're describing, the gameboard has been flipped and pretty much all future predictions are off.

But there are nearer-term levels of AI capability that could revolutionize programming while still being far from doing all the work of putting together entire programs and software services. Even just a significantly smarter Copilot could cause some serious frothiness in the job market. And we might see one soon, if a self-play approach like programming puzzles works out and lets us get around the current problem of paucity of training data for code models.