How is it not? It reads to me as them saying that all these devs have deskilled from "barely competent" to "completely helpless". Or is your claim that they were actually really good devs, and the deskilling has been even more intense than I'm picturing?
My personal experience is we're seeing a magnification of results. The slog is reading hundreds of files, updating some active code to remove some old function from 100k lines of code. Last week the modification, while trivial, would have took weeks and AI agents were able to correct the code with 100% verified accuracy in 20 minutes.
Because that also sounds real bad!