The US and Europe might have lost a lot of craftsmanship knowledge at a social level. Yet, what is left is so far ahead of what has ever existed in countries in South America for example. And China has gained a lot. Witness that youtuber trying to make grill brushes in the US. These differences have an impact in terms of opportunities and competition.
It's easy to sit at home, watch documentaries and picture history progressing along logical lines and imagine that the "industrial revolution" was this massive shift from craftsmanship to automation. Look closer and you'll see that what happened in the UK in the 1700s was in fact enabled by a long and deep tradition of craftsmanship that only got enriched by the rise of new power sources. Craftsmanship today is vastly more advanced than it ever was before industry.
And there is a lot to lose in the decline of craftsmanship, and it is by no means some sort of historical inevitability.
When you really start digging deep into history you realize most arguments of logical trends therein are mostly just misconceptions.