I think there will be a crash of any sort of junior positions and the employment numbers will fall down. There will be need for experienced, intelligent developers, but only highly below average.

Average devs will be no longer needed as all they can do a senior will be able to do in the same time with LLM.

I think we'll go back to the system as in the Mythical Man-Month - one lead developer, one below them to do less important tasks, and a few domain experts not related to programming. Ironically I think good front-end developers may remain useful as UI/UX experts.