I think it's worse than that. The frontier labs are purporting that there won't be any "new work" required in the future—starting with knowledge workers and then eventually snaking down into more manual labor jobs via robotics.

The irony is that these same labs are still hiring engineers to build the machinery they're so convinced will make engineers obsolete. It's so paradoxical it's not true.

The only true things are that AI is a bubble, the current technology is unsustainable given the amount of compute required, and LLMs are overhyped in what they can do well versus what they need to be closely supervised with.