This has been exactly my mindset as well (another Seattle SWE/DS). The baseline capability has been improving and compounding, not getting worse. It'd actually be quite convenient if AI's capabilities stayed exactly where they are now; the real problems come if AI
does work.
I'm extremely skeptical of the argument that this will end up creating jobs just like other technological advances did. I'm sure that will happen around the edges, but this is the first time thinking itself is being commodified, even if it's rudimentary in its current state. It feels very different from automating physical labor: most folks don't dream of working on an assembly line. But I'm not sure what's left if white collar work and creative work are automated en masse for "efficiency's" sake. Most folks like feeling like they're contributing towards something, despite some people who would rather do nothing.
To me it is clear that this is going to have negative effects on SWE and DS labor, and I'm unsure if I'll have a career in 5 years despite being a senior with a great track record. So, agreed. Save what you can.