Who tells - or, say, programs - the AI what to change every time stakeholders want a button moved or an endpoint to contain some new field on response? Is leadership going to do all that work too?
I see where you are going and may I suggest this thought experiment: let's say there is a team of 4 developers. AI automates 50% of their work, but there is still a lot of fine-tuning and certainly a lot of time in meetings with co-workers. But, this team has more free time so their company gives them more work. Great, so they are still working at capacity now. However, let's suppose AI gets to 80% automation, and there is no more additional work their company can offer them. That's when one or two, or more of them are at risk of losing their jobs.
I think that's a possibility, but as a senior dev myself (that makes me biased I guess) I've found that as time goes on coding is less and less of the job, and communication and creative discussions take over. These are just to figure out what stakeholders want. I have a hard time imagining an AI automating this part of my job, although I suppose it could happen.