Fair assessment. And worth noting that in a sane world, a broad 10% productivity improvement across industry would be a once-in-a-lifetime, headline-making story, not a disappointment.
The biggest risk in software development is building the wrong thing. Digging yourself into a hole 10% faster is _worse_. You now have more backtracking to do!
Note that I am bullish on AI coding in general, just trying to contextualize your statement.