Spacy is a great library and still way better than LLMs in a narrow set of tasks for a few of reasons:

- Effiency: get the same job done in less time, with less memory

- Consistency: always gives you the same result, no prompt engineering required, no hallucinations, no creativity

- Security: parse untrusted text without worrying about prompt injection

I work in a project that uses complex NLP pipelines. LLMs are replacing or enhancing parts of it, but not at all replacing spacy.