Earlier today, Squarespace announced a new feature called Squarespace Logo that allows users to create simple logos with some text, a tagline, and an icon. Pretty innocuous, right? Might even help a few people add a little personal touch to their site that they might not be able to create for themselves (or can't afford to have made by a professional).
But to a bunch of designers out there, this was a personal affront, a direct attack on their livelihoods. Do a simple Twitter search for 'squarespace logo' and you'll see this sort of thing:
I could keep going, but you get the idea.
The problem I see here is that these designers think that Squarespace is now in direct competition with them for their client base. On the contrary, I highly doubt this tool will affect the livelihood of any designer worth their salt.
If a person or company decides to make a logo with this tool and is happy with the result, then you can bet they were never going to hire you anyway. Maybe they're not interested in Building a Brand™, or maybe they just don't have the means to pay for a professional logo. Whatever the reason, the fact that they have tools to make this process easier for themselves is a good thing. Only a completely selfish person would think otherwise.
It's also pretty silly to say that these sorts of tools "devalue a profession". Professional photographers have been moaning for years about the rise of portable cameras and layman editing tools, but there's still a vibrant and necessary market for pro photographers. In the same vein, the advent of home video-editing tools hasn't done away with movie studios.
Maybe photographers and videographers and designers (and even writers!) will be made obsolete someday. Maybe. But I think that day is very far off in the future, and a designer scared of a tool that produces nothing more than a basic shape with some text is perhaps a designer not worth hiring to begin with.
So no, I don't think there's any cause for concern. Squarespace didn't kill the web designer market, and Squarespace Logo is not going to kill the field of icon design.