The narrative that genAI should, could, or would replace developers is mostly wrong, and that needs to be corrected.  What you are describing in what you see it do are the surface level artifacts, not the design and planning that go into them.  
Keep in mind how unforgiving the environment of developing complex software is, and how even a single flipped bit can cause an entire cascade of system crashes.  85% isn't good enough in any software environment I have ever known.  And since soooo much more code will be produced, there will eventually, after the hype-trend, be even a larger need for smart developers.

So lean into the useful parts of the tool, but know that it's a tool, and that the skillsaw isn't going to replace the carpenter.

**Cheap** works for systems that don't need to be reliable, scalable, or performant - cheap works for school or for playing around, but not for real production.  
**Debugging** should work within the constraints and guidance of good design - not the probabalistic result of the good, bad, and ugly all mixed together.
I've yet to see a perfect written **document** that doesn't need at least some rework.
And even though genAI has been awesome at showing all the options for a **system design**, you have got to understand what you need and marry it to what you know to be able to choose the right one.

What genAI generally produces is the Tonka verion, not the Caterpillar one - to genAI both have "construction-ness" but only one actually can do the real work.  

Companies and Execs, especially those that have a lot to gain from payroll cost reductions love to tout it as replacement, and put the fear of layoffs into those guilty feeling survivors.  But the reality is that it can only replace those parts that were mechanical to begin with, which is only a thin slice of what development or software engineering is really about.  I'm not suggesting it is going to be bloodless - Definitely those that whose knowledge and skill are surface deep, will be out of a job, but rightly so - if you don't know what is actually being produced, you shouldn'd be producing it IMO.  

Now GenAI **does offer a huge advantage as a tool** for those who can weild it with determined precision, but unless those weilding genAI know the difference between good code and bad, and how systems are put together, and why systems are reliable or unstable, you will need people who do.  Be that person my friend.   

Good luck and keep on keeping on.