You are comparing what it is with what should be.
PDF space is still more advanced than the people typing into "word processors" however. Making software to emulate letters was such a massive mistake for the trajectory of computing, it let people effortlessly "adopt computers" by making a digital facsimile of their terrible analog processes. Only with AI we now have the ability to digest all this unstructured mess.
There is a budget and when it is gone, no contractors until next budget round.
If maintenance and security is fully automated and for small changes or a small feature you will only dump some spec document into your agent platform, for sure.
If you're in a product company and your development backlog is empty, run. That company is about to go out of business.
I have stupid question here. Why they sell tokens instead of AI generated full application and AI fixes to your code without you needing a single dev?