Yes, but if/when that happens, it won't just affect software engineers. An AI that can do that can replace any white collar worker.
> People knocking out Jira tickets and writing CRUD webapps will end up with their livelihood often taken away.
I'm not sure anyone is actually working on those. People talk about spending all day writing CRUD apps here, but if you suggest there are already low code tools to build those, they will promptly tell you it's too complex for that to work.