A good point, but an obvious one to economically-literate readers. The counterpoint to it is that it requires fewer developers to automate a process than it requires to write it. In the short run, unemployment may increase, but in the long run, it'll stabilize.
The first part is technically true - the automation team can exceed the original team, but this may be a special case of "engineers untangling a mess of functionality accumulated over the years." The second part has an exception of its own - there doesn't necessarily have to be a complexity threshold, developers "over-automate" simple processes all the time (e.g. Microsoft).
