There is a great portion of my favorite book on Political thought regarding wages and the Artisan. Socrates points out that once a person in society receives ample money for a project they no longer have incentive to do future work. Socrates continues stating that this is not the biggest problem. The biggest problem is that the person with the wealth is now free to meddle in the affairs of everybody else in society. That meddling is almost never in societies interests, but that person or the person's close friends and associates, so that they gain further control of society and have more stuff than everyone else.
That book in case you are interested is Plato's "The Republic".
The whole "everyone should code" argument is foolish. Society needs plumbers, welders, architects, accountants, doctors, physicists, line workers, and every other job there is. As society has demand for jobs the wages should go up, which draws people into the needed jobs. Since coders are in demand and receive good wages for their work, it seems at least some of this push is to artificially reduce the wages by flooding the market. And lets face it, there are not a whole lot of decent paying middle class jobs left in the US any longer.
Human societies are now billions of people. Even millions of dollars are just a drop in the sea. There is absolutely no way anyone can know what that drop is good or bad for society. Is the projected funded by a billionaire for his interests more detrimental than a project sanctioned by a government official using taxpayer money?
By the same logic of not everyone should code, then everyone shouldn't need to read and write, do math, learn science? Every scientist now learns to code; engineers code, physicists code, biologists code. Why shouldn't the average person code?