I do think some programming jobs are over hyped and do not require much intensive day to day thought, but I think the industry itself will be fine. I don't think an actual professor said this, but rather the user made it up and the sub is just circle jerking itself. The explanation of Moore's Law affecting CS graduates was so incomplete that I have to think the user doesn't even understand the concept. End of Moore's Law would actually be a boon to CS majors since it would mean there would be more efforts to optimize code for certain ICs since improvements in hardware would be less frequent.
Also, while diversity is encouraged throughout bigger tech companies, the process is overblown. Even though a company like Google can afford to stick some feelgood hires here and there, they would be broke if those hires proliferated throughout the company. Small companies (<500) cannot even afford to hire someone incompetent. I think a lot of people think it is unfair that some demographics are ignored while others are praised and I can agree with that, but it is uncommon for incapable people to be readily hired over competent candidates. I wouldn't discourage anyone from applying to a CS related job.