Dismissal of arguments as "just semantics" is high school level argumentation.
by semantics, i mean the definition and pool of tasks, responsibilities, and outcomes a job is comprised of is shifting so fast that the borders of what is a 'software engineer' and 'business person' are melding together. software engineers are business people in their own way
If the rhetoric is to be believed, the set of responsibilities falling to the role of "software engineer" is shrinking to zero, and all engineers are being forcibly "promoted" to the managerial class of shepherding around agents.
software engineers who are comfortable doing business work - managing, working with different stakeholders, having product and design taste, being sociable, driving business outcomes are going to be more desired than ever
likewise, business leads who can be technical, can decompose vague ideas into product, leverage code to prototype and work with the previous person will also be extremely high value.
i would be concerned if i was an engineer with no business acumen or a business lead with no technical acumen (not counting CEOs obviously, but then again the barrier to starting your own business as a SWE has never been lower)