I think in the end people will realise AI is not a silver bullet that will solve all problems and make all software engineers obsolete. Instead it will just become an extra tool in our toolbelt right alongside LSP, linters/fixers, unit test frameworks, well though out text editors and IDE's, etc.
When the bubble has burst in a few years, the managers will have moved on to the next fad.
It's definitely helpful for search and summarisation.
In terms of prototyping, I can see the benefits but they're negated by the absurd amount of work it takes to get the code into more maintainable form.
I guess you can just do really heavy review throughout, but then you lose a lot of the speed gains.
That being said, putting a textual interface over everything is super cool, and will definitely have large downstream impacts, but probably not enough to justify all the spending.
When the bubble has burst in a few years, the managers will have moved on to the next fad.