Comment by parineum

I think I can offer an alternate explanation and it jives with your first point.

When I use AI to completely write code for me (not using it as a powerful auto complete), it's not fun. I don't learn anything. It takes everything I love about software development and makes it just like any other job.

I'm also never happy with the result and, when I go back to make it work the way I want it to, I have to learn a new code base that isn't built the way I would have. If that happens to a project I'm working on as a hobby, I find it incredibly unmotivating.

It turns my intellectual pursuit into an assembly line and I hate that.