The cost of writing code has gone down - I don't think by 90%. Maybe by 30%, with a big asterisk that says something like "as long as someone has put some similar code somewhere or is a very mechanical refactor".
The thing is, writing code is just the first step on building software. You are reviewing what your AI generates, right? You will still be held responsible when it doesn't work. And you will have to maintain and support that code. That is, in my mind, also "building software".
This reminds me of the (amazing) Vim experts that zip around a codebase with their arcane keystrokes. I'm a main Vim user and I can't mimic a fraction of their power. It's mesmerizing to watch them edit files, it's as if their thoughs get translated into words on the screen.
I also know that editing is just the first step. If you skip the rest, you are being misled by an industry with vested interests.