It does, but I have to direct it and review it. That means I have to think about it, research it, consider how the new feature or system fits in with the existing feature or system. I have to make decisions on libraries/dependencies. I have to consider how the project will evolve in the next week, month, quarter. I communicate all of that to Claude in an interactive planning session and it outputs a detailed spec, ready for implementation.
All of that thinking, planning, rewriting, etc. takes almost as long as it takes Claude to actually deliver the feature. The big features Claude writes take ~30-45min of uninterrupted coding to deliver (I just checked the last feature was 39m 41s for +1,610/-26). To write that same code would have taken me probably 2 days.