I imagine there is an upper bound on how much of the world can be eaten by software, and the trend seems to be getting closer to that point. Unless there are some massive breakthroughs in robotics or cybernetics which open more of the physical world to software.
There's also a point where incremental software improvement requires bulldozing, paving, or burning so much nature that we'll be worse off in the end. Watching billionaires squabble about who gets the new AI data centers makes me wonder if we haven't crossed over that point a few funding rounds ago.