If you're talking about just creating a presence on the web and perhaps some simple shopping cart stuff (e.g. as a lone-wolf freelancer), then yes, a lot of that can be done with existing CMS's and such. If you're looking at actually doing anything new, interesting, complex, different, etc., then you need "real" developers to develop it.
I'm working full time as a developer at a dot.com, mainly doing server-side PHP and SQL (PostgreSQL in my case); and I very seldom touch any HTML, CSS, or JavaScript. (We have people who specialize in client-side stuff using those -- not to mention separate graphic designers -- but that's not me.) We might use WordPress for our company blog (which mainly exists for SEO purposes and to bring users into our main sites), but all the real development work is done outside of any such platform, involving lots of database interaction and plenty of custom code. Based on how difficult it has been to find new developers to hire, I'd say there's definitely a market for web developers (at least in the greater NYC area).