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You have the right comparison. Developers need to remember that nobody had a job punching holes in cards after the revolution of personal computing. Going to be the same here. The jobs will revolve around operating the new "loom" which we have been given.

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It's not clear to me that the new "loom" won't just operate itself completely.

That's the problem with comparing this to previous tech advances. Past advances made people much more efficient at some task, but it still required the people to work the new thing. But now we have a new thing that might be able to work itself.

The "loom" in this case is kind of a loom that helps people create other tools. Creating tools is generally not an automated task and with AI it will be easier.

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