Anytime you hear such wild claims, imagine a typical code sweat shop (not just crud apps but templated eshops/business pages etc), not a system that will evolve for another 10-20 years beyond initial implementation and is backend cornerstone of some part of some corporation. That is in the case its actually true, there is tons of PR happening here, plus another gigaton of uncritical fanboyism like with any strong topic.

Now there may be an additional corner case or 20 where its still valid but they are not your typical software engineering work.

I also have your experience, even 100x code delivery improvement would barely move the needle of project delivery in our place. Better, more automated integration and end-to-end functional tests which reflect real world usage/data flows would actually make much bigger difference, no reason to think llms couldn't deliver this in near future.