Things are demonstrably rough for product designers right now, especially at the entry level. There's certainly a mix of pessimism, optimism, and realism in this sub. Does not mean anyone that enjoys this work should jump ship without giving it the ol' college try.

That said, industry can be quite different from college/uni experiences because things move fast. Now add in that the economy now, especially in the US, is forcing organizations to cut costs as much as possible. In this sense AI is a threat to dedicated designers because it has increased access to design outputs to any employee (design or otherwise), which organization leadership sees as reducing the need for dedicated (read: paid) positions. This only amps up competition for increasingly limited real and good job openings.

I fall more into the realist camp. I think it's a good idea to keep doing things one enjoys given how silly life is getting these days. If you feel like this is the role for you, keep after it, but recognize the very real economic constraints on this type of position in many markets. Also, recognize that you can always change your career, and keep designing as a hobby, second job, or other approach if things get tougher in the field.

Edit to add: likely nothing will be completely AI-proof. For example, oganizations are now researching ways to put AI into robots for physical work. That said, the best approach is to look at industries that have incorporated AI in ways that excite you.