One thing that is overlooked here is that we're in the business of creating things to solve problems in the world. Code is simply the medium of creation.
Perhaps writing code does get scaled down over time and replaced with AI to a large extent. But the basic business and human needs that the code is solving doesn't necessarily disappear. Product management will still exist and there will be a need for humans that can talk to their human customers to understand their human needs. If the next step in that process of creation is prompt engineering and reviewing AI-written code, so what?
As creators and problem solvers, we need to always be reinventing ourselves anyways.
This will be a particularly painful and uncertain time for anyone whose job is going to look drastically different in the future, which is most of us. But I don't think that these arguments necessarily apply any more to software engineers than they do to a lot of other careers like writing, law, art, or movie production.