I don't feel like the abstraction away from assembly language resulted in fewer software engineering jobs.

Given the models are unlikely to stop getting better, I think it is fair to say the human contribution is going to keep getting "leaner".

That is going to change the job, but also head count.

But I agree harnessing models opens up opportunities for better product design, ... but only ... everywhere.

The people who design the most usable software have always been in a minority. They will be valuable for some time.