Not all code is cheap. Some code remains very expensive.

But the idea that some code is cheap and some code is expensive is not new.

The only new thing is there are some adjustments on how to asses the value of the code you’re presently, or about to, work on.

AI has absolutely expanded the set of code that is cheap and if you can make a thing easily with AI then so can someone else. That project is unlikely to result in valuable code. Which is not to say it doesn’t have utility. Just its monetary value is low.