If it's any comfort, once you get past the breathless headline it turns out it only works for problems that can be solved in 5 lines of code or so. The sort we give middle schoolers to solve in summer computer camp.
I am also reminded of CASE tools. That was the big hype in the '90s that was supposed to allow non-technical managers to produce custom software based on a simple specification. It turns out, you have to be a programmer to be able to write a specification good enough to turn into software, but it's harder to write adequately for CASE tools than it is to just write the software.
Of course, everything old is new again, so in the 2000's we got UML (not the virtualization UML) that was also supposed to generate code from an exact specification driven by XML. You remember XML, the magic glue that was supposed to magically make software inter-operate?. Well, that turned out to also be much harder than just writing the damned code. WooHoo, you can generate hello world in less than 3 days!
But more to your point, yes. When people here and elsewhere say just go to school and get a new career, they're glossing over a great deal of mental anguish that will be suffered by millions, either because they're too immature to understand what it's like when you can't just run home to mom and dad or they believe it won't happen to them and they don't have enough empathy to feel for others.
While I don't think programmers will really be hit by this for decades to come, some people are truly facing it right now. They did everything you're supposed to do, but the promised life isn't forthcoming. Unfortunately, it looks like fixing the problem won't get much traction until someone experiments with replacing judges and lawmakers with Watson.