We're very privileged to be able to wonder when enough productivity is enough. A huge portion of the world's population still lives in abject poverty and increased productivity would absolutely benefit them. And I think there were people 100 years ago making the same argument as you, that technology had advanced far enough that there was no need for more.
FWIW, I agree that the focus on productivity at the exclusion of everything else is bad, the point of productivity is to live well, but I think there's a lot of the world that doesn't live well, and I think it is perhaps a failure of imagination to not believe that we could live better as well.