Your point is valid.
"AI leads to loss of personal coding skills"
Unfortunately, I can no longer do long division. No one will pay me to do long division and I have a calculator now. I could stay sharp at long division for a hobby though. Keep those for loops sharp if you want, but I don't see people paying you to hand code. Eventually, it will just be a liability. (like not using a calculator).
"it could hit a hard wall at 70% of a good programmer's ability"
That is not what NVDA,AMZN,GOOG,or MSFT believe. Maybe you are right and they are all wrong. They do have some smart people on staff. But, betting against the sp50 is generally a terrible plan.