Previous biotech breakthroughs have made good progress in treating many illnesses, but making healthcare cheaper overall is not one of them, even if it makes a specific therapy cheaper.

It would be unsurprising to me if a biotech gold-rush resulted in healthcare becoming a larger proportion of GDP, even if it produced miraculous results. We'd just have to scrimp and save and take out a reverse mortgage for generic re-transcription therapy or whatever instead of chemo and nursing homes.