To some extent you are right. SAP has done so much automation in the field of SAP administration that you don't need that kind of skills which one SAP basis guy having 18 years of experience may have acquired.
In the next few years, SAP will be changing drastically. Any job which needs complex basis operations such as Upgrade, migration, installation, backup, restore, etc will be done just by clicking a few “next” buttons. Just like installing MS office. Still, someone will be needed to click those “next” buttons and to find out if something fails or goes wrong. All over the IT below together with SAP is stepping into cloud space, so that will also make the job of an SAP application monitoring easy. I am not trying to demotivate you or frighten you, but just saying that BASIS guy will be there, their job will be there but that may not be as challenging as it was once except the fact that basis guy would have to keep updated still. BASIS guys are needed to handle SAP applications however not therein numbers, only a few.
So in brief, yes the automation at SAP is not killing jobs but it is slowly killing a profession, a profession which one may have boasted of, a profession which once revered among SAP professionals, a profession which requires a set of skills, a profession which comes with admiration, a profession of SAP Administration.
And don't worry, all this may happen solely once every few years, as a result of SAP remains evolving, and an evolution desires migration and upgrade and to try to that an SAP Basis guy is needed.