There is no evidence this is the case.
We could be in an era of diminishing returns where bigger models do not yield substantial improvements in quality but instead they become faster, cheaper and more resource efficient.
And no one cares what we may have in the future. OpenAI etc already have an issue with credibility.
The scaling laws themselves advertise diminishing returns, something like a natural log. This was never debated by AI optimists, so it's odd to suggest otherwise as if it contradicts anything the AI optimists have been saying.
The scaling laws are kind of a worst case scenario, anyway. They assume no paradigm shift in methodology. As we saw when the test-time scaling law was discovered, you can't bet on stasis here.