This is an accurate description of 90% of corporate software pre-LLM.
LLMs are introducing a unique kind of bloat and dysfunction but it's not like they are replacing pristine code. Most software that is subject to market pressures and is generating a profit is painful to look at and difficult to work in.
By way of example I use Kdenlive 90% less and just use Codex to issue the ffmpeg CLI commands directly when I want to crop/format video on my PC.