I just did a major refactor of a project to move it many versions up on a framework and whole process was effectively vibe coded. I'd estimate I did in a couple of days what would have taken a couple of weeks.
That's good and expect that could be shaved down even more. I was spending most of time just waiting for it do the work.
But I don't know if that fundamentally changes the situation or not. We've had steady improvements in developer technology for decades. Even pre-LLM, I'm building significantly more complicated applications now in less time than ever before. But as quickly as our developer technology improved, the demands on applications we build has gone up. I'm not sure even LLMs can outpace the demand for software.