We're going to be drowning in a glut of chips in 5 years.
Chips are getting put into everything now and will only continue to expand as they get cheaper. Amazon and others putting Alexa or equivalent into everything. Necessary or not. Coffee is done, pings a phone. Dishwasher, etc. Not to mention vehicles.
I wonder how long until my drill needlessly records how many holes it has drilled over it's lifetime. Or so that I can rent it and pay per hole drilled.
Make more and they will be used. As much as I will personally miss dumb equipment that just worked.
Silicon ICs have been commonplace in appliances for decades now, “smart” or not. My appliances are all dumb as bricks and there are probably a couple dozen ICs in my kitchen.
Even if their costs come down due to fab oversupply, don't expect them to pass their savings along to you and me.
They have near monopolies in their sectors so have no incentive to lower prices too much.
I suspect in 10 years time a lot of these factories will either be mothballed, closed, or the original plans scaled back.