My final paragraph addresses that, but to expand:

Devs have been worried about offshoring/immigrants replacing them/lowering their wages for decades.

The only outcome we have ever observed from having more people building software is that dramatically more software jobs have become possible and in-demand.

Also, and I understand why you might not make this argument, but let’s be honest: software engineering wages are extraordinarily high. Slowing or even reversing that growth by small amounts on average would still leave millions of extremely well-paid jobs.