Code is still there, but humans are done dealing with it. We're at a higher level of abstraction now. LLMs are like compilers, operating at a higher level. Nobody programs assembly language any more, much less machine language, even though the machine language is still down there in the end.
The difference now is that people are actively trying to remove people (others and themselves) from software development work, so the robots have to have adequate instructions. The motivation is bigger. To dismantle all human involvement with software development is something that everyone wants, and they want it yesterday.
I thought this was going to be about libraries containing books, but it works either way.
Why own a book? Much less a building full of them? You can generate an entire book instantly using AI. You can generate thousands, millions, trillions, of books using AI. More information that has ever been known before.
Same for software libraries. Same for software. Need a new virtual instrument of a symphony orchestra, broken down into violins 1, violins 2, cellos, etc.? Just ask AI to build it for you, and it's done. Need a C compiler? Ask AI to build it for you, and it's done.
Why should that be a problem? Code no longer needs to be understood. If there are any problems, code can be trivially regenerated with updated descriptive prompts.