For the theory part, yep. I’d suggest to always explicitly tell ChatGPT to skip the code snippets and explain you logic behind a solution - it can then stop worrying about library versions / dependencies, it’ll almost always give you a good answer or point you in a right direction 
(ie. right libs / cli / latex equations / papers.)
But for actual coding, nope - I don’t believe this statement to be true. If anything, it improved senior developers’ net worths, as 2022-2023 was full of side-projects where you’d basically be paid 10x the hourly rate to fix critical issues in projects coded by ChatGPT (good times 
)