> satiation (people just feeling satisfied and not wanting much more)
Advertising industry literally exists to mitigate this problem. I don't envision it hitting a limit any time soon.
> cultural shifts toward simplicity
This has not happened yet. Our existing "trends" for simplicity and minimalism are just thinly-veiled attempts to get people to buy more shit they don't need (like "simpler" items, to replace the perfectly fine items they already have, or books and videos and conference tickets of minimalism thought leaders).
> replacement of complex labor-intensive technology with simple low-maintenance technology (e.g. EVs have 1/10th the moving parts of typical ICE cars)
I don't believe this is stable state. EVs are more reliable because they're new. They haven't gone through enough value engineering cycles. The market has a structural incentive to optimize away all quality, until the result is barely fit for advertised function - so I expect that once EVs start dominating, they'll also start breaking at the rate people are used to with ICE cars, because manufacturers will optimize away spare capacity and surplus material of every component.
I think the risk is still dominated by the supply side.