Honestly, either feels like an improvement over now.
If LLMs actually get good enough to really automate the production of good software, it'll be disruptive for the industry and we'll all have to adjust a lot more than we already are, but I think it'd be on-net good for it to be cheaper and easier to produce good software. And, in the past, such changes have only increased the size of the tech industry.
Or, if we finally realize LLMs aren't going to get there, there'll be at least increased demand for actual software engineers to clean up all the LLM mess.
But right now is the worst, where the industry feels like it's lying to itself about what these tools are capable of.
If LLMs actually get good enough to really automate the production of good software, it'll be disruptive for the industry and we'll all have to adjust a lot more than we already are, but I think it'd be on-net good for it to be cheaper and easier to produce good software. And, in the past, such changes have only increased the size of the tech industry.
Or, if we finally realize LLMs aren't going to get there, there'll be at least increased demand for actual software engineers to clean up all the LLM mess.
But right now is the worst, where the industry feels like it's lying to itself about what these tools are capable of.