Think secondary effects. What does a world in which almost every programmer can be automated look like? It looks like massive extremely fast technological development, how to build and program robotics will be solved almost instantly.
With solved robotics goes every other labor.
We don't get the same current X productivity with 1/100th the people. We get 100x productivity, controlled by a few people / megacorps, until they lose control of it too.
I still don't see it. I think for quite a while replacing a single engineer will be costly and resource-intensive. I think many companies would be happy to replace all programmers with AI that are just as slow as programmers, but marginally cheaper. That doesn't mean that we'll suddenly have massive extremely fast technological development.
We don't get the same current X productivity with 1/100th the people. We get 100x productivity, controlled by a few people / megacorps, until they lose control of it too.