It misses that we won't be doing Old Thing. We'll be doing New Thing.
It's not a step change in an old medium. It's a qualitatively different change to a completely new medium, whose properties haven't yet been revealed.
It's like waving an iPhone at Babbage. An iPhone is so far ahead of an Analytical Engine that it offers a completely new and unimaginable set of affordances.
It's also faster, smaller, and more reliable, with much more memory - which is an interesting implementation footnote, but incidental to the fact that from a user POV it's a completely different class of device.
Imagine if a country banned computers in 1979 to protect jobs, other countries would have run circles around them and it would have had huge economic implications.
In that world the skill won't be to code, but to accurately describe software/business requirements. Unless a future AI can do that too.