Is computer science as f**ked as some people are saying?

A lot of it just jokes, but I've been at Uni for the past 6 months nearly and everyone not doing computer science seems to have the impression that the job market is lost and that damn near everyone taking the subject is screwed. This is said to be because AI will take all our jobs and because the subject is over saturated with students. I have also heard stories about it being hard to find jobs online but I don't know if this is just a generic young people's job market problem.

This kind of goes against evidence in the number of job listings I can easily find online and anecdotal evidence from many of the adults in my life.

I do have a placement year in my course which I am currently banking on giving some job security if what some people are saying about the field is true but I'd rather know what I'm getting myself into.

I guess if the internet can help settle this, that would be good.

Edit:

Many responses touch on the idea that many people expect a 6 figure position out of Uni even after not having any skills other than programming. I've never been under this delusion and at this stage of my life, I would be happy with much less than that. I also put effort into building my skills and portfolio even out of Uni. My question mainly concerns the ability to get any kind of slightly well paying job at all.