Having been part of the industry for 50 years, I can confidently report that none of this is true.
Sure, writing code has a non-zero cost; this is true of any artifact.
But you know what costs even more, Jonathan?
Writing bad code; writing unnecessary code; writing more code than you really need simply because you think you might need it someday or you are too lazy or sloppy to clean up after yourself.
Anything that costs nothing is often worth nothing as well, and results in significant unintended consequences.
For 50 years, software engineering ran on code rationing. Writing code was expensive, so we rationed it carefully through roadmaps, RFCs, prioritization meetings, and scope reviews.
This created a role: the No Engineer. No, that won't scale. No, we don't have bandwidth. No, that's out of scope. No, we need a design doc first. The No Engineer was valuable for 50 years. Every "no" saved real money. Their judgment was the rationing system.
LLMs will be the end of code rationing. Code is cheap now. And while the No Engineer is explaining why something can't be done, the Yes Engineer has already shipped three versions of it.
If you're a Yes Engineer, the next decade is yours.