I think this is overly optimistic; it assumes universities reacted instantly and pivoted to teaching coding with AI as soon as it was feasible. In actuality, university curriculums cannot change quickly, and AI capabilities are changing much faster. In my experience, some students are using AI to write code, but then have no idea what's going on. The "skill" of typing "Write a function to do [basic thing]" will not make them AI-native or help them in the workplace.
It also is naive to think, if AI is shrinking head count, that companies will seek anything other than seniors.
2008 triggered a glut of cheap experienced workers that slowly reengaged juniors but this time that the entire ladder is going to be more valuable than any grad.
2008 triggered a glut of cheap experienced workers that slowly reengaged juniors but this time that the entire ladder is going to be more valuable than any grad.