The claim isn't that the LLMs are democratized. The claim is that LLMs are causing software development to be democratized. As in, people who want software are more able to make it themselves rather than having to go ask the elites for some. As in, the elites in IT now have less power to govern what software other people can have.

(Or alternatively, it's getting harder to stamp out "shadow IT" and all the risks and headaches it causes.)