Good point, but maybe a little incomplete. Can you read a contract and tell whether the courts will accept it? No, you need a lawyer for that. Can you look at a bridge or dam and tell how long it will last and under what loads? No, you need an engineer for that. You can, of course, wait for a court to rule on a challenge to a contract and judge how well it was written that way, but by then it's too late, and you've wasted money. Programming can be like that too. You judge a program by throwing it in front of users and accepting the financial (or, worse, human) consequences, but usually it's more economical to hire someone who knows what they're doing.
> Can you read a contract and tell whether the courts will accept it
Of course you can, if you understand the law. It's the same with professional sports; a random guy off the street isn't going to be proficient as a coach, but someone that deeply understands the domain -- as I mentioned -- can create and review code for quality without being able to write the code at that level or proficiency.
Erik Spoelstra is a great example. Played basketball and had a short professional stint in lower leagues in Europe. Started off reviewing tape for the Miami Heat and went on to be a very successful coach. He doesn't make the plays, but he knows which players and which plays he needs. He knows when a player makes a good play and when a player makes a bad play. He substitutes players as needed for each situation. He deeply knows the domain, even if he can't himself play at that level.
When the LLM can code 100x faster than you, your job isn't to be a better coder, it's to be a better coach.