> AI can't replace a decent newgrad. It literally can't find a React import and cannot be relied on for anything without a human double checking it, which takes as long as writing it yourself, when it comes to line-of-business applications.

This is little-picture, short-sighted thinking. A one-for-one replacement of a specific kind of employee is not a requirement to statistically displace employees across a workforce. AI tooling can augment the productivity of existing employees, which results in a lessened need for human labour. And you're making the baseless assumption that we have achieved the pinnacle of AI development. This problem will only get worse as AI tooling improves.