I did a lot of AI assisted coding this week and I felt, if anything, it wasn't faster but it led to higher quality.
I would go through discussions about how to do something, it would give me a code sample, I would change it a bit to "make it mine", ask if I got it right, get feedback, etc. Sometimes it would use features of the language or the libraries I didn't know about before so I learned a lot. With all the rubber ducking I thought through things in a lot of depth and asked a lot of specific questions and usually got good answers -- I checked a lot of things against the docs. It would help a lot if it could give me specific links to the docs and also specific links to code in my IDE.
If there is some library that I'm not sure how to use I will load up the source code into a fresh copy of the IDE and start asking questions in that IDE, not the one with my code. Given that it can take a lot of time to dig through code and understand it, having an unreliable oracle can really speed things up. So I don't see it as a way to gets things done quickly, but like pairing with somebody who has very different strengths and weaknesses from me, and like pair programming, you get better quality. This week I walked away with an implementation that I was really happy with and I learned more than if I'd done all the work myself.
But I don't hear anyone worried about the massive power consumption without a clear indication if this is a net positive for our society.
If Jason Fried did it, people would laugh it off as an outlier, but the richest man in the world did, and so he's a genius and every other CEO will try out the same magic idea and hope for the same improvement. This is... going to lead to a tsunami of some kind.