I think at the smallest companies, they do need engineers that can do everything. There isn't enough income to pay teams of people to do specific things, so you are going to have to be comfortable writing code, screwing around with CSS, pushing stuff to production, worrying about security, and laying the framework for hiring the next n engineers. There just isn't anyone else that is going to do it.

At bigger companies, it really varies. There is a lot of specialization, so you can definitely get away with only programming (or only doing SRE, or only developing build/testing tools, or only maintaining production machines, or only developing Linux on embedded devices, etc.) I think that is where you want to aim if you don't care about the details of the "full stack". And, I think it's perfectly fine to specialize; you can probably be more productive when you're focusing on only one thing.

I am 50% looking for a job, 50% doing my own thing right now. The biggest problem I have is that when companies need the skills I have, they have too many employees and I know everything is going to be "meetings to review the employee handbook" instead of engineering. If I were going to write a complaint about the state of the industry, it would be that. Do more with less people!