I mean I wish there were a plateau, without one we're well onto our way into techno-feudalism. I just don't see it.
And the kind of automation brought by LLMs is decidely different than automation in the past which almost always created new (usually better) jobs. LLMs won't do this (at least to extent where it would matter) I think. Most people in ten years will have worse jobs (more physically straining, longer hours, less pay) unless there will be a political intervention.