1. More code faster is not the goal. More features / value faster is the goal. Obviously to get there you need to write more code, but it's not writing code for code's sake.
2. Yes, true, but the point is to move up the abstraction hierarchy, so instead of asking the LLM to rename a variable you describe the concrete business goal you're trying to achieve.
It is true that coding agents cannot build fully complete stable systems completely unguided yet. That's why we still have jobs. But it's wrong to suggest that they don't deliver value or that they're destined to produce trash every time. It is a matter of oversight and guidance and setting your codebase up for success. That does require work, but it is not impossible, just a different skillset from the ones we've been used to.