What I mean by that is that you have even more power to start your own company or use LLMs to reduce the friction of doing something yourself instead of hiring someone else to do it for you.
Just as the internet was a democratization of information, llms are a democratization of output.
That may be in terms of production or art. There is clearly a lower barrier for achieving both now compared to pre-llm. If you can't see this then you don't just have your head stuck in the sand, you have it severed and blasted into another reality.
The reason why you reacted in such a way is again, a lack of imagination. To you, "work" means "employment" and a means to a paycheck. But work is more than that. It is the output that matters, and whether that output benefits you or your employer is up to you. You now have more leverage than ever for making it benefit you because you're not paying that much time/money to ask an LLM to do it for you.
Pre-llm, most for-hire work was only accessible to companies with a much bigger bank account than yours.
There is an ungodly amount of white collar workers maintaining spreadsheets and doing bullshit jobs that LLMs can do just fine. And that's not to say all of those jobs have completely useless output, it's just that the amount of bodies it takes to produce that output is unreasonable.
We are just getting started getting rid of them. But the best part of it is that you can do all of those bullshit jobs with an LLM for whatever idea you have in your pocket.
For example, I don't need an army of junior engineers to write all my boilerplate for me. I might have a protege if I am looking to actually mentor someone and hire them for that reason, but I can easily also just use LLMs to make boilerplate and write unit tests for me at the same time. Previously I would have had to have 1 million dollars sitting around to fund the amount of output that I am able to produce with a $20 subscription to an LLM service.
The junior engineer can also do this too, albeit in most cases less effectively.
That's democratization of work.
In your "5% unemployment" world you have many more gatekeepers and financial barriers.