The same as the distribution of companies which are profitable over time and grow steadily, vs the others which clumsily flail around to somehow stay alive. To the winner go the spoils, and the winners will be a tiny fraction of companies, same as it ever was.

A way I look at it is that all net wealth creation in public companies has come from just 4% of businesses:

https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2900447

https://www.reddit.com/r/investing/comments/rk4udc/only_4_of...

It'll be similar with software companies. 4% of them will hit on a unique cultural and organizational track which will let them thrive, probably using AI in one form or another. The other 96% will be lucky to stay alive.

Same as it ever was.