The issue is that the amount of useful software written—or more broadly, the value, or even profits, businesses are making—hasn't increased in any measurable way.

I don't dispute that your tasks are taking less time, but I suspect that to be temporary. This is a forum of AI frontrunners and early adopters, so I expect it's a matter until people catch on, and recalibrate their expectations for amount of output a programmer can produce in a given timeframe.

What I dispute is that this increased output amounts to actual value. There may very well be a HN-wide 10x productivity boost, if HN measures productivity in Jira tickets per day. But if that's the only measurable result, we should expect the only long term change to be a 10x increase in Jira tickets once orgs catch on.