I've been unemployed for 7 months. Every online job I see that's been posted for at least 6 hours has over 200 applications. I'm a senior Dev with 30 years experience, and I can't find work.
I'd say generative AI is an existential threat as bad as offshoring was for steel in the early 80s. I'm now left with the prospect of spending the last 20 years of my work life at or near minimum wage.
After all, I can't afford to spend $250,000 on a new bachelor's degree, and a community college degree might get me to $25/hr, and still costs thousands. This is causing impoverishment on a massive scale.
Ignore this threat at your peril.