In the sense of "smart tech founders" and C-suite executives in general using AI hype as an excuse for layoffs and understaffing, that's absolutely in the realm of possibility, and already happening in some places.

the only human-readable artifacts will be design & verification inputs

rich ppl will still hire serfs to patiently listen to their desires and handhold their decision-making

and subsequently SW will still appear

but the production process isn’t going to resemble anything we’ve trained for