It'll get cheaper bro, we just need more data, please bro, then we can use it to solve climate change, we just need more electricity, please bro, think of the capabilities bro...

If there is a future for LLMs, it will come after the bubble bursts and the small, specialized, locally hosted models take over, yes. I don't expect them to be able to get good enough at coding to replace humans any time soon, though. You need logical reasoning and problem solving skills to produce code that's of any value, and we aren't getting there by text prediction.