Yes. Like it or not, the days of “typing code” is coming to an end. In fact, may be cheaper for companies to just nuke all existing software and start over

Test/debug/fix against what? Writing code is fundamentally not about tests or debugging, it's about formalising informal requirements into hard constraints. To do that, you need to understand business, human, and technical contexts. Without that understanding, you get over engineering, Google Cloud Console, and poor code lacking mechanical sympathy respectively. What's more, often those contexts have competing/incompatible requirements that you need to either evaluate using your idea of your team's values, or escalate, being aware of your own limitations.

None of those problems are amenable to modern LLMs. The moment you try to be formal enough to be unambiguous, you start writing code.