AutoCAD certainly has changed a LOT of stuff... but I don’t think the demand for architects has ever lived up to the imagined prospects of kids going into architecture programs.
AutoCAD certainly has diminished the demand for draftsmen, tho. I took four years of drafting in high school and what I see in AutoCAD (and similar CAD programs) completely changes the number of people necessary to churn out engineering drawings at a manufacturing company.
The person wearing the “architect” hat is the boss. Structural engineers, electrical engineers, mechanical engineers, and auto cad techs all work for the “architect”.
Do you think a 22 year old kid with a degree in architecture is going to be the boss? Not gonna happen.
In the old days, a fresh young architect worked his way up to being the boss by making drawings and little models out of cardboard. These positions have been replaced by autocad techs who often have less than 2 years at a community college and they are good. No architect will be able to do their job.