Two things.
1. AI CEOs oversell, by a lot. OpenAI CFO admission that they are cooked unless the US government bails them out is a tell.
2. The (almost) purely utilitarian nature of software code is in contrast to the more personally meaningful aim of art in general (although both do converge when we're talking about purpose-fit artwork: design/music for ads/shop centres, for instance). That makes, in my view, most of the difference given the following.
Vibe coding is mostly a very well evolved (albeit not perfect or deterministic) code completion/linting/review tool. Although it does bypass (for the user/coder) a LOT of the intellectual work needed to come to the same result - and by that, I mean/think that it is highly detrimental to the user/coder intellect; and because of this, it becomes highly detrimental to the employer too, especially if it reduces its own workforce.
A software company that extensively uses AI instead of hiring competent (and junior) people is faced with the same fate as a company that just stops hiring: it's going out of business or bought in a few years. Because it outsourced its control over its own process, or the process/product it sells. That's also a reason why considering Engineering or R&D as a cost center only makes sense in the "accounting sense", not in the "common sense", but that's only one example of how MBA's fucked up the world.
It certainly trained on existing open source codebases; whose code reuse is encouraged; although indeed, the license on the code in output is a question; did it train on closed source/proprietary codebases? that's an open question. Does it threaten developer jobs? I am not sure, see above.
"art" GenAI is a whole other beast, operating (and training) on a whole other order of magnitude of quantities of artwork that are very opinionated, original, and for which authors/owners have NOT given their consent to be used neither in training, neither in the output. People promoting GenAI dismiss the objections and practice of those owners showing a poor understanding of the process that is art, and a glaring contempt of the copyright law.
Did it train on copyrighted works? Yes. Does it track how? No. Does it compensate people? No.
Does it make comparable quality work in output? No, because it's automated and it completely misses the point.
Does this threaten original artists that put in the work then? Yes, because a lot of people who have money (hence power) but shit taste and no understanding of the art process believe that it does replace real people trained and dedicated to this process and the particular media they work with. And they invest their money where they believe it will further this replacement and give them more money.
But it literally, from start to finish, makes no sense. And that's precisely the point of the process that is art. Through actual, personal and group work, make sense out of something.
A machine, an algorithm does not do so. The art is mangled in the training/labelling process. The prompt is crap, and always will, compared to the specifics and accidentals of the original work used in the training step.