This might cheer you up: https://visualstudiomagazine.com/articles/2024/01/25/copilot-research.aspx
I don't think we have anything to worry about just yet. LLMs are nothing but well-trained parrots. They can't analyse problems or have intuitions about what will work for your particular situation. They'll either give you something general copied and pasted from elsewhere or spin you a yarn that sounds plausible but doesn't stand up to scrutiny.
Getting an AI to produce functional large-scale software requires someone to explain precisely the problem domain: each requirement, business rule, edge case, etc. At which point that person is basically a developer, because I've never met a project manager who thinks that granularly.
They could be good for generating boilerplate, inserting well-known algorithms, generating models from metadata, that sort of grunt work. I certainly wouldn't trust them with business logic.