While that's the hype, it's not going to be the reality.
Yes, what they are doing has a market.
Yes, it will absolutely allow many of the masses to do what programmers have been able to do for ages. It will change the market, the cheese will move, but it won't destroy the marketplace for programmers.
I think work in graphics design is probably the best parallel. People freaked out in the 1980s when home computers could make banners and flyers. As the software advanced, you got more and more people doing Word Art, and enormous clipart catalogs let office secretaries make good looking office flyers, creative garage sale fliers, church bingo night announcements, and much more. LLMs let people continue to create this type of thing, and print-on-demand services let them send their creations out to make custom stickers and such. But most critically, NONE OF THOSE PEOPLE were hiring graphics designers for those jobs before. It enabled the masses to do some of what graphics designers do, but when it comes to real ad campaigns and professional marketing, companies know investing a few hundred dollars will bring in a few hundred people from the community, investing many thousands or millions are essential for large regional or national campaigns, those jobs continue to get the professionals.
More people making vibe-coded websites that satisfy their specific needs? Great. They weren't hiring a team of programmers for software development before, and they're not hiring a team of programmers after. Executives that claim they'll cut costs by 90% by firing all the professional programmers are in the hype, they either don't understand the work being done or are playing the field. They may do well in their quarterly financial statements, but a couple years down the line the company won't have anything of value remaining. The CEO will be long gone, sold his options, collected his golden parachute, and moved on to the next company to be restructured. Investors will have gutted and sold everything of value from the company by that point as well, they'll take the hype bubble, milk it, then dump what remains in an asset fire sale. The companies that continue making great things and not seeking the bubbles will continue to create good value, leveraging the tools where appropriate but still hiring skilled workers to create products with lasting value.
There will always be changes in who is the winner and who is the winner this quarter. Certainly plenty of profit-seeking investors care only about those quarterly results, not the products and services on offer. There are companies that will grow and companies that will die, nothing new is there. It's good that more people will be able to have more custom program options, just like WordArt and clipart collections allowed people to easily make their own fliers. Those who want a specific vision in marketing can start with "here's my interpretation from an image generator, but I want it done better." Similarly when a small business needs a team of developers to build a program, the customer can also bring in what tried and failed and what they want to see differently, and they come back with a better bid being able to reference what the client generated using AI as a starting reference for building the professionally-built items.