Earlier quoted context omitted.
If software dev is simplified to the point people working jobs like you describe are able to do it, wages will also plummet, so it’s not like their situation is going to improve.
If a developer making $1/hour produces $10 output (of something people buy), then if you add another developer making $1/hour produces $10 of output, you have $20 total product. Developer A and B can compete on their rate down to the point that it's not sustainable, and thus, an equilibrium will be struck. How is adding more developers going to reduce the output?
time spent coordinating, time spent arguing, time spent reaching consensus (dumb example: function signatures / architecture / api contracts), time spent comparing approaches.