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99% of software developers earn less than 200 USD a hour

That “with enough context” is doing a lot of work here. If you take a great engineer, drop them in front of an unfamiliar codebase, it’ll take them more than an hour to do most non-trivial tasks.

Most good engineers are way cheaper than that. The world is bigger than the united states.

Equal sounds like a terrible argument given all the other problems with replacing engineering thought with ai. I don't know where the line is but I expect it's far beyond equal AND there needs to be a level of "this can debug effectively in production" before that makes any sense for a real business case.