Most non-commoditized reasonable paying jobs are a product of information asymmetry. Anything that shrinks that asymmetrical surface is a threat to jobs. The company you are missing is the one that fires 99 of their engineers, hires 200 generally lower performing but far cheaper engineers and uses AI to accelerate their output.
Now whether or not that would actually work given the reality of the AI output is a question, but that's the general premise.
Now whether or not that would actually work given the reality of the AI output is a question, but that's the general premise.