Maybe you are right but where UML created busy work, Copilot will literally do your work for you. I can even imagine a future where management makes it policy to Copilot first to save time and money.
I can also imagine clueless bosses mandating Copilot use and that's what scares me. The real costs of most code aren't in the first writing. They're in the long-term maintenance. Copilot does not and cannot understand the whole system, or what makes for maintainability down the road. So it can't make that better, and will likely make worse. In the same way that code generation tools and code wizards made things worse.
Because management policies correlate well with engineering excellence, right?