There's another way of reading it, which is that code generation will become sufficiently advanced that a huge number of the high-paying software engineering jobs that exist today become things that people can do with very little training.

It's not so much that you can take informal descriptions and turn them into software, but more that the software can be built by anyone with a few months of training, thus driving down salaries to a point where mere coding is no longer a white collar job.

That doesn't seem impossible, but the reason for its unliklihood is far more subtle.