This prediction predated any of the technology to create even a rudimentary LLM and could be said of more-or-less any transformative technological development in human history. Famously, Marxism makes this very argument about the impact of the industrial revolution and the rise of capital.
Geoffrey Hinton appears to be an eminent cognitive psychologist and computer scientist (edit: nor economist). I'm sure he has a level of expertise I can't begin to grasp in his field, but he's no sociologist or historian. Very few of us are in a position to make predictions about the future - least of all in an area where we don't even fully understand how the _current_ technology works.