I graduated with a degree in Computer Science and Software Engineering from the University of Washington in 2020, during the height of Covid.
After over 3000 handcrafted applications (and many more AI-written ones), I have never been offered a job in the field.
I know of multiple CS graduates who have killed themselves, and so many who are living with their parents and working service/retail.
I think the software engineering rush of the early 2000s will be looked back upon like the San Francisco gold rush in 1949.