The claim that "AI will write 90-100% of code within a year" fundamentally mischaracterizes generative AI's role in software development by conflating pattern-matching tools with autonomous creation. LLMs function as sophisticated autocomplete systems—enhancing productivity like IDEs or compilers—not as independent agents capable of semantic reasoning, requirement translation, or production-level integration. These systems cannot independently verify code correctness, struggle with novel problems, hallucinate non-existent APIs, and degrade exponentially with codebase complexity. The "last mile" challenges of security validation, deployment context, and infrastructure integration remain insurmountable for current systems. Moreover, economic forces (open-source commoditization, negative unit economics for commercial providers) suggest GenAI companies face greater existential threat than software developers, with generative AI ultimately following the historical pattern of developer tools: augmenting human capabilities rather than replacing them.