Creating these wrong things is only cheaper with LLMs. Since developers now spend less time and effort to create that wrong thing, they don't feel the need validate or reflect on them so much.
The risk is not the tool itself, but the over-reliance on it and forgoing feedback loops that have made teams stronger, e.g. debugging, testing, and reasoning why something works a particular way.
I think of it differently. Speed is great because it means you can change direction very easily, and being wrong isn't as costly. As long as you're tracking where you're going, if you end up in the wrong place, but you got there quickly and noticed it, you can quickly move in a different direction to get to the right place.
Sometimes we take time mostly because it's expensive to be wrong. If being wrong doesn't cost anything, going fast and being wrong a lot may actually be better as it lets you explore lots of options. For this strategy to work, however, you need good judgment to recognize when you've reached a wrong position.