[itemize123]

don't agree with your logic at all - agree with your conclusion. your logic is deeply flawed - a) you've to justify mediocre engineers not been necessary, the mechanism they are pushed out by LLM matters. b) relative ranking is useless - it's the difference between absolute ability and that is close for say top 50% most likely. This might mean half of us will lose jobs, and half see compensation pressured but it's not as certain as your argument make it out to be.