We will have completed many iterations before we have even a moment to review the feedback loop. Thus, we will likely compound many mistakes before we realize it.
I have no idea how it will slow down. Someone just figured out how to reduce the cost of building a multi million dollar model to around $600. That was supposed to take another decade.
I've spent a lot of time thinking about what the picture looks like in this advancement. I think we are going to trip over many landmines in this new tech gold rush. I've written my own perspectives on that here - https://dakara.substack.com/p/ai-and-the-end-to-all-things