I think it’s terrible if you want to work at a company, but probably decent if you are building an app for yourself that has a good business case and good marketability.
If the idea is simple enough that Claude or ChatGPT can build a marketable implementation, then anyone can. Why would anyone pay for yours when they can just prompt-build their own?
The old saying was that ideas are cheap, value is in execution. With LLM coding, execution is cheap too, up to a point.
In defense of the OP, the limit was probably never code, but the willingness to find and build for an audience. Even with LLM Coding, Product Management is still a skill that has to be built, and the way almost every Startup Failed Retro starts with "I wish I had talked to my customers more" probably the more important one.
I think it makes it much easier for someone with domain knowledge and limited coding knowledge to build an app. The moat isn’t the coding, but the knowledge of what you want to build.