It does however lower the barrier of entry and increases what a smaller team of developers can achieve with the same amount of resources. There's still been a major paradigm shift in our industry.

So it probably (I mean honestly I believe anything can happen at this point) doesn't mean every business will just start writing all of their own software (cheaper doesn't mean free), the bar for building your own stuff has lowered so there will for sure be more software written for internal use instead of using some off the shelf program.

And there will be more competition among software companies because everyone can now build much more with much less resources.