Not today. Today you will be spending 3x the amount you can pay for a junior dev to get similar results. But yes.
The main issue is that without junior devs, there won't be senior devs in the future.
Discussion
in my case, Sonnet comes handy when impementing specific functions that I know exactly how they should behave. And write tests for it. But asking AI to write 100+ LOC is spaghetti. The coding style and a train of thought is not human enough.