In the beginning, programming was more fun. No oversight, bosses that don't really know what you are doing, programming at one point in time was treated like magic.
You glue together other pieces of code because in most cases, because the wheel has already been invented. This really was the dream of open source and with all of the free software and libraries out there, it's becoming a reality.
It's also going to drastically reduce the wage of a programmer over time. Most businesses don't need to hire an engineer to create a complicated library. They can hire someone with much less skill to use an already existing library to get what they need done.
Since the skills to get the job done will decrease, the supply of potential developers will increase and wages will decrease.