I'm not a principal, but I would wonder: if AI increases every "coder's" productivity, say, 5x doesn't that replace some teams with 1 person, meaning less "alignment" necessary? Some whole org layers may disappear. Soft skills become less relevant when there are fewer people to interface with.

Even regarding "chase something complex and difficult", there are currently only so many needs for that, so I think any given person is justified fearing they won't be picked. It may be several years between AI eating all the CRUD work from principal down, and when it expands the next generation of complex work on robotics or whatever.

Also, to speak on something I'm even less qualified – the economy feels weak, so I don't have a lot of hope for either businesses or entrepreneurs to say "Let's just start new lines of business now that one person can do what used to take a whole team." The businesses are going to pocket the safe extra profits, and too many entrepreneurs are not going to find a foothold regardless how fast they can code.