I've been using GitHub Copilot for a few months now and I can say that it definitely saves a little bit of time. I've seen reports that it makes developers 33% faster and it really does not come anywhere close to that. Where it shines is being able to fill in some boilerplate code faster than I can type it. When what I'm writing is something where the next few lines are something that an undergraduate student could easily predict, it can fill it in and I can tab complete it faster than I can type it. (Even when it's wrong, it's often faster to accept the close-but wrong answer and fix it than to type it all out manually.)
Expecting it to write whole routines or do any sort of serious architecting is going to be a let down.
But here's the thing: Copilot for Business is $19/month. Compared to a typical developer salary, how much time does it need to save per month to justify that cost? If it saves minutes per month, you're probably still coming out ahead. If anyone really believed it made developers 33% faster, they'd be charging a lot more.
But it definitely requires some skill to use it well. It comes up with some truly monumentally bad suggestions sometimes, and often suggests things that superficially appear correct but aren't. You need to be able to know the difference. If you don't, I could easily see it making things worse.