The world underestimates how difficult frontier software products are to build. Take the PKM category, ALL major players are FROZEN with ZERO product velocity, including Notion and their reported $600M ARR!
What agentic coding methods seem to have done is reduced the cost of replicating previous-generation methods. Indie devs (and VCs) building pixel art nintendo games. Soon games built on top of Unreal Engine, because they can program the Unreal framework about as well as they can program Python, which is spectacularly. But without developing new frameworks, the agentic methods will simply reproduce the same set of flaws and issues that the current generation of growth stage products have. Which means they are (1) uncompetitive, and (2) late. The fundamental problem of software is that it becomes difficult to change once you have users and revenue. Being 100x faster to generate code does not solve that problem that landing the code in prod breaks the user's workflow and generates churn.
Agentic coding methods also accelerate research and development, so I anticipate a new generation of more agile products. But still, these will be built by more competent founders, not less. AI reduces switching costs and accelerates learning. The advantage right now is to R&D teams that figure out how to take advantage of the new capability frontier to accelerate their very slow R&D lifecycle.