I believe if we ever reach that point where programming is common-skill; the real developers will stay ahead due to demand. I honestly don't see corporates with millions/billions of revenue trusting newcomers with a few weeks of experience to handle core business automation; in the same way as you don't trust a clerk to sort out your legal issues.
Perhaps when the time comes; professional developers will become like the attorneys in the law system; where specialist skills demand even a higher rate and requires less time invested (which might mean the same salary as now but only working 'part time').
I don't have any issues with people wanting to learn to code; I even mentor some myself. It really comes down to hours (or rather years) invested in learning and fine-tuning your skills; which I see the majority of new developers not willing to invest in.
As such, I believe the demand for better developers will increase. Look to the tech companies with open positions looking for 10x/star developers - even though there are developers available, they just don't make the cut.