On the other hand, much of the code I write is in an industry where training and operations manuals are closely guarded corporate secrets that make up the recipe or soul of a company. The job of the SWE is to deeply understand the processes and procedures that employees follow, and to write code that helps facilitate those and then gets out of the way. A lot of it comes from walking around and seeing how people are actually using the software and what works, and what's a pain point. I've always maintained that the value is in the operations manuals, and the code is just a logical extension of that. But that's where SaaS usually is insufficient because regardless how versatile and broad it is, it doesn't usually encapsulate enough domain knowledge, let alone the proprietary stuff.
One effective moat might be "Your LLM has never been trained on our closed source codebase."