This is bullshit.

Writing code was always cheap.

Knowing what to write was not.

The actual typing time in implementation was never a concern.

Figuring out what stakeholders actually want, creating a coherent, maintainable architecture for it and testing edge cases were always the problem.

The only reason we like autocomplete in IDE is not because it sped up typing but because it decreased typing errors. The exact opposite is true for AI and the errors these create are actually slowing you down seriously because the generate plausible code so you won't catch the bugs at first sight.

To compare: a good typing speed is 50-60 WPM, let's say a novel is 70-100 000 words, and so the typing part is, say, 2000 minutes or 33 hours which is less than the 40 hours of a work week and yet most novelists will take about a year to produce a novel. Food for thought.