This is what I have experienced as well. My employer (large SaaS company) declared a "code red" concerning AI about 6 months ago and built a team responsible for laying the foundation for how we will be using AI. They built a RAG framework for development which is scary efficient and accurate.

Developers who are testing the waters with cursor or warp have no idea what is possible.

I am scared for all devs, newer and older. Newer devs will have a harder time gaining experience. And the older devs who don't adapt will be looking for jobs in another line of work within 5 years.