The job of a programmer isn't to write code, but to automate things. Code itself doesn't have any value unless it solves some real problem not related to coding.
So if the work of a programmer can be automated then this means that any work can be automated. So no, it's not about software engineering only.
Code that solves a problem related to coding absolutely have value.
Compilers, programming languages, IDEs, toolings all solve problems related to coding and are valuable.
> if the work of a programmer can be automated then this means that any work can be automated
This is a very typical programmer thing to say.