"This talking dog is a complete dumbass. It has no idea how to make a good risotto, and the C++ code it wrote has security holes you could drive a truck through. I don't get the hype."
From my experience, in software, I'd say it's like a junior fresh from university — it certainly has its place, but humans can still regularly best it.
I'm expecting both that it will be used appropriately to boost productivity and lower cost, and inappropriate by people who don't have enough domain knowledge (or wisdom) to check the results before using them: https://www.google.com/search?q=%22as+a+large+language+model...
It'd be as silly as cirque du soleil advertising that their amazing trapeze artists will be replacing accountants any day now.