Actually typing code is pretty dull. To the extent that I rarely do it full time (basically only when prototyping or making very simple scripts etc.), even though I love making things.
So for me, personally, LLMs are great. I'm making more software (and hardware) than ever, mostly just to scratch an itch.
Those people that really love it should be fine. Hobbies aren't supposed to make you money anyway.
I don't have much interest in maintaining the existence of software development/engineering (or anything else) as a profession if it turns out it's not necessary. Not that I think that's really what's happening. Software engineering will continue as a profession. Many developers have been doing barely useful glue work (often as a result of bad/overcomplicated abstractions and tooling in the first place, IMO) and perhaps that won't be needed, but plenty more engineers will continue to design and build things just more effectively and with better tools.