I think most of this was caught immediately when the announcement was made (like the edited live coding), and in any case I can't stand watching this video to the end. "This scared the pants off every software developer in the world" no. No it hasn't. That's just not true. Why do you even say that. The immediate first reaction of any SE with even a passing awareness of how marketing of software tools works and not completely high on genAI farts was "ye that won't work" and, fucking shocking, it doesn't work, wow, no way.
People were trying to sell you that software engineers will be obsolete because "codeless apps" like 10 years ago. Wizards were supposed to eliminate jobs because they'd generate code so well. Knowing SQL was supposed to be completely obsoleted with ORMs. I'm too young to have been there but apparently XML was supposed to "solve networking" or something nonsensical like that.
Those ads aren't targeted at software engineers. They're targeted at execs. It's execs who get all excited that they can start firing their expensive and pesky developers that complain so much. Software engineers worth their salt don't buy this shit because bollocks like these come as part of the job description.
Anyway, trying to frame it as "it was supposed to be this revolutionary tool to replace developers" without mentioning that this is a song that's been sung for fucking decades is a disservice to the topic. Nothing makes executives as wet as the thought of not having to deal with those fucking "specialists" that they need to pay actual salaries and can't huff down their necks 8h a day with a whip to use if they don't hit KPIs. And that's extremely important to have in focus when you talk about shit like this and wonder "why did they raise so much money". Because VCs hate labour that's why. The answer is always that.