There could be too many people too, but A.I. is taking (atleast some) junior dev jobs.

Companies are not hiring juniors and instead giving A.I. to the rest of their employees thinking that that will offset the loss of junior jobs.

Of course not every company will be like that, but it seems to be a common trend. If the trend continues, we could end up in a world where there's a big mid-level to senior shortage because juniors stopped being hired (and therefore trained).