Not true. The people who are screwed right now are juniors. There's still a lot of hiring happening for traditional development.

Not every business is in tech.

Every business uses tech.

R&D tax credit problem fixed, now development starts to get back on track at a lot of companies.

Or peripheral to it, e.g. data engineering for pre-training data or a joint DE/ML role, etc. Sometimes the scale (petabyte) or specific stack experience is a barrier.