I've said "code was always the easy part" recently so I should probably explain where I'm coming from. I think the practice of software engineering includes that "understanding of the relationship between code, business, people and teams" you mention, which essentially boils down to the ability to skillfully design a system - regardless of whether it's a big cloud-based web application or a tiny cli tool for use within a team.

To me, the difficult parts of software engineering are in the design. That's where you're defining the problem you're trying to solve, picking what technology to build upon, what kind of architecture you're planning on implementing, ruling out what does/doesn't make sense, taking input from stakeholders, and finding the balance between price and performance. Once all that is covered I generally have a good high-level mental map of a system's structure, and actually writing the code to bring those ideas to life truly is the easier part.

That being said, I still believe writing good code is a skill that is only learned through experience/the practice of actually writing code. And that experience is necessary for reviewing code - regardless of whether the code you're reviewing was written by humans or AI.

Kind of like baking. Putting it in the oven was always the easy part. But combining the right ingredients in the right ratios is necessary, and much more difficult than the putting-it-in-the-oven part. And even then, it takes experience to know when something needs to be pulled early or left in longer. Because ovens are non-deterministic.