Software Engineers - Are you genuinely producing more value with AI or are you simply more 'productive'?

Despite the fact that AI has increased the number of documents generated, the amount of code committed, and the amount of harnesses around business practices, I don't see any value output. I see a high volume of artifacts and tooling, but very little increase in genuine value-delivering productivity. That is to say, the applications I use, the games I play, the technology I buy, feels either the same or worse. As a disclaimer - I'm a distinguished engineer in an AWS vertical. I'm well aware of how to use the tools, but I see very little innovation or value delivery these days. If I could sum up my experience these days, its that everyone appears productive and on the ball through meetings and docs, but are generally cognitively bankrupt when it comes to actual deliverables people care about.