They excel at specific tasks that are built for them
They are however widely known to be terrible at code, at least compared to an advanced coder. They introduce not only more bugs even after human review, but new kinds of more insideous bugs.
I like to say the main problems with most projects were already the code quality and the bugs, and not that we somehow needed even more low quality lines of code.
(Disclaimer: not talking about passive AI bug analysis here, just using AI to write actual code.)