If you're working on a big database + rails CRUD project where you need a bunch of hands to make forms, sure, I'll take that.
Of course, you could drastically reduce cost by architect a system that doesn't need to just brute force code so much.
And that's the difference: if I'm building a sky scrapper, I need some architects and engineers to figure out how to make it stand 50+ stories tall, and then I need hands to build the hundreds and hundreds of identical units inside.
In software engineering, I can architect a way to only have to make 1 of those units and never have to worry about the grunt work. There's always SOME level of grunt work, but it's very small compared to non-software fields.
And then there's actually complex software projects, which is where a large chunk of the money is. Not just chugging out stupid games and apps. And this is where code monkeys are useless, and where they keep being noise for the signal.
That being said, right now, those coding boot camps are chugging out people who arent even fit to be code monkeys.... so the argument doesn't even apply.