I agree with the points you raised. We saw similar things happen when computerisation started happening at large scale in business in the 90s. Financial managers raised concerns over lose control and saying their bookkeepers will stop thinking if the computer does the calculations.

We had to navigate a change in training, processes and structures over the decades to get the full benefit.

Along the way, we had both people who elevated their productivity and effectiveness and people who could not adapt and became data capturers, adding little value to the process. Much like with vibe coders.

The technology also has some way to mature. A lot of the problems also stem from the highly subsidized rates people are getting. The tools are accessible to a much greater group of people who are not using them as carefully and deliberately as they should. The quicker this bubble pops the better it will be for all software development.