I don't think SaaS is going anywhere. I don't think the correction is just because "AI agents will replace everything", it might be because AI allows new entrants to build quality software more quickly. More software = more opportunity to disrupt incumbents -> more FUD.
No serious company is internally vibe coding mission critical software. It isn't "we'll vibe code our CRM", it is "there are 10 new kids on the block and Salesforce might not be as safe because the companies being built today can move extremely fast with a lot less".
I think there will be more SaaS than ever, but the Salesforce/Workday/SAP's of the world have to do more to maintain their dominance.