That's how I see AI. I've been writing software for the better part of 40 years. What I see from AI is sometimes astonishing and sometimes pathetic. I would never, ever, ever put AI generated code into production software without carefull checking and refactoring, and I would fire anyone who does.
Code completion is mostly in the "astonishing" part. If I write a couple lines of near-identical stuff, like assigning values from an input to a structured format for processing, the AI most of the time gets right the next line I want to write. Anything more complex than that is hit-and-miss.
Mostly, I use AI the way I would use an intern. "Can you look up how to use this function correctly? What are the parameters and their defaults?" or "Write me some code that's tedious to write (like lots of transformation operations) but not rocket science by far.
Essentially, it does faster and a little bit better what previously I'd have done with Google and Stackoverflow.
I have no fear it'll replace developers anytime soon. Half of the time the code is outright wrong, most of the time it has glaring security issues or isn't half as fault-tolerant as it should be, and for any case where I know how to do it without any research, I'd be faster writing the code myself then going through several iterations with an AI to get it done.