In Turkey, iPhone Pro 17 costs $2,610, yet there are still queues outside Apple stores. Considering that the average income is much lower than in the United States, people are still willing to pay more for this phone than you might expect.
Your argument relies on the idea of an "actual product", what is happening—and I’m seeing it firsthand both in my company’s codebase and in my personal projects—is that AI is contributing more and more to product development. If this trend continues, we may reach a point where 90% of a product is written by AI.
At that stage, the real value will lie in the remaining 10%—the part that requires human judgment, creativity, or architectural thinking. The rest will be seen as routine: simple instructions, redundant CRUD operations, boilerplate, and glue code.
If we focus only on the end result, human will inevitably write less code overall. And writing less code means fewer programming jobs.