It can't happen without someone, but certainly it can happen with a lot less people, which is what's going to happen to the industry. Some days I'm shook to my core about how much I did relative to how long it would have taken just a year ago.
All software engineers will become product managers as the agents take over doing the bulk of the work.
Companies will either do the same with less or more with the same.
My opinion is that any company whose business model is selling software is going to go out of business.