It most certainly will replace software engineers. What's missing is, as the article suggests, the "Delivery" bit. But that's not the realm of software engineers, that's the realm of DevOps/SRE/Cloud engineers. I work as a cloud engineer and have been contacted by multiple non-engineering friends who have now been able to create their pet projects from scratch in different languages and have it running locally, as we…
The tech boom has made people forget this, but that fact never changed. And now what we're seeing is that the "write code" part is increasingly becoming devalued. What does this mean? That those with domain knowledge will still be able to function, whereas people who could only write code will be devalued.