I think it's helpful to think of engineering as a _process_ instead of a role, and the reality is that a lot of development work doesn't necessarily rely on the strong engineering methodology (e.g. measurement, material properties, tolerances, modelling, etc.) that the people developing the software might imagine just based on the number of job adverts for 'engineers'.
This isn't a bad thing. There are hundreds or thousands of different but equally valid solutions to getting a program to do a thing, but not recognising that most code writing is somewhere between a art and engineering and is neither a purely artistic discipline but also rarely a purely engineering one is useful.
The kinds of engineering and architecture that people think of in software development only really represent common practices and shared language (e.g. design patterns, architectural patterns) and not a strong engineering practice or any kind of truth about how software actually runs.
(Unless you're writing software for launching rockets, in which case the engineering _process_ porbably should be strong).
It's probably true that a lot of development work doesn't rely on those. It's probably also true that the work other kinds of engineers do also don't.
That said, when engineering software systems, those are very important. Measurement: resource sizing, observability; tolerances: backoffs, back pressure, queues, topics, buffers; modelling: types, syntax, data analytics...
There's a whole class of developers out there that are not aware or very good at those. And that's fine. There's a place for them in the market. You don't need an engineer to work on your floor joists or your plumbing. Sure you can have one, but you can also hire a builder or DIY it all yourself.
All of theses middling developers who are so excited about these tools don't seem to realize that they are perfectly primed to eventually eliminate precisely the kind of worker responsible for hooking up existing APIs for solved problems into a web app, the kind of work the market hitherto greatly over esteemed and overpaid for isn't my going to be so esteemed or highly valued anymore. The only real work that will remain is actual hard engineering work (solving novel technical modeling problems, not just plugging apis together). All of these lazy devs are hyped for precisely the automation that's goin. to significantly reduce their pay and labor prospects in the long term lol. I'm shocked at times at how people can fail to see the writing on the wall when it's been written in gargantuan red ink
Most people don't work on anything technically hard, most problems are business logic issues that aren't solved technically or legacy code workarounds for which you need to put 3-10 domain experts in a room for a few hours to solve.