Yes, but that also means humans are usually more resourceful than what we can imagine in the first place. Look back also in the early 1900s where all major newspapers were proclaiming the end of world and massive famine if we ever reached 1 billion people on Earth, and look where we are now: virtually no famines anywhere (except in war zones and in the worst dictatorships, which is now a minority) and the population is still growing and poverty is decreasing progressively. This would have been unimaginable 100 years ago.

So, let's not fool ourselves with predictions. We are notoriously bad a predicting long term trends.

PS: the analogy with horse is wrong in so many ways (because horses are not humans and cannot adapt like humans) but this would be another topic altogether.