Why can't it be that we use it for boilerplate knowledge and that we will continue to innovate on our own? Or how about having it recombine knowledge itself based on the vast corpus of data it has already consumed?
Because people are fools and will use it to minimize investment/operating costs not considering serendipitous advances.
Well, if you're running a business, sometimes you do need to minimize operating costs. But the people who innovate are going to continue to do so, regardless (or because) of any tools.
The innovation can be the elimination of boilerplate, and sometimes that can only be found by writing it yourself.