It won't be a student on $10 replacing him. Who would hire an inexperienced student when there are piles of displaced experienced devs looking for work? One of them and a couple of AI licences could try to replace several people the way things are going.
At least until the investment capital starts to be called in and use of decent AI models becomes noticeable more expensive, assuming that happens long before open free models are good enough to replace them.
Of course that will lead to there being very few experienced people in a couple of decades, as most of the remaining ones age out, but I'll be long done by the time that becomes a big problem, I'm not on the right side of the mid-life divide!
At least until the investment capital starts to be called in and use of decent AI models becomes noticeable more expensive, assuming that happens long before open free models are good enough to replace them.
Of course that will lead to there being very few experienced people in a couple of decades, as most of the remaining ones age out, but I'll be long done by the time that becomes a big problem, I'm not on the right side of the mid-life divide!