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That’s an easy prediction to make; at worst you’re cautious.

And it’s a powerful tool. Even staplers have rules around their use: no stapling people, no hitting people with a stapler, don’t use a staple to pick a lock, etc.

But nobody blames the stapler, is my point.

That's one of those capabilities that seems super scary if you truly believe that writing code is one of the most important things a human can do. Computers have, of course, been writing computer programs for a long time. Next thing you know, they'll be beating us at chess.

I think you're confusing importance with power.

Can it execute code?

It can submit the code that it's written for execution if you tell it that it can, by utilizing specific markers in the output that get processed. There already are frameworks around this that make it possible to e.g. call an arbitrary Python function as part of answering the question.