There used to be a job people would do, where they'd go around in the morning and wake people up so they could get to work on time. They were called a "knocker-up". When the alarm clock was invented, these people lose their jobs to other knockers-up with alarm clocks, they lost their jobs to alarm clocks.
You can paint your own walls or fix your own plumbing, but people pay others instead. You can cook your food, but you order take-out. It's not hard to sew your own clothes, but...
So no, I don't think it's as simple as that. A lot of people will not want the mental burden of learning a new tool and will have no problem paying someone else to do it. The main thing is that the price structure will change. You won't be able to charge $1,000 for a project that takes you a couple of days. Instead, you will need to charge $20 for stuff you can crank out in 20 minutes with gen AI.
But the thing is, unless you're building your own business, it just doesn't matter. No one will remember this in five years. In a corporate environment, every doc, every line of code you wrote will be replaced or forgotten far sooner than you suspect. Two or three reorgs later, your team might not even exist as a distinct entity. There will be no statue of you in the hallway after you're gone.
It's also not your family. If you become any sort of a liability, if you make an off-color joke, if the revenue metrics are off by 5% - thanks kid, here's the door. The first layoffs you go through will be devastating precisely because they crush that illusion. Yeah, your manager might be a genuinely nice and caring person, but by the end of the day, if they're asked to sort a spreadsheet with your name in it and then draw a line somewhere, they will, and there will be "nothing they could do".
The only lasting thing you're getting out of the heroics is the money you save, the skills you learn on the job, and for a short while, the reference you get from your old boss when you apply for the next job. If you optimize for that, you'll probably have a satisfying career. If you don't, you wake up one day realizing that you've given up a good chunk of your life to make Sam Altman 0.01% richer, and that's that.
If a company is demanding that you sacrifice social life and well-being, ask yourself what's it worth to you. Are they paying more than anyone else? Or do they just want to get more kLOC out of you for free?