Industrial revolution worked that way because it replaced something very finite and unscalable - manual labor. LLMs just make intellectual work faster, so we can do more intellectual work. With labor we somehow decided that NOT doing too much of it is best. Will we decide to reduce intellectual labor because LLM made it more efficient? I doubt that.
On the other side, as I see in software engineering, the same models are available to everyone, some people are better at it and some people are not. "Software developer" is here to stay, we'll just always be better at it than people who are experts in, say, chemistry. Same works for most other fields.
So we'll just end up in the same situation, with same intellectual labor baseline, just more output requirements. Before, you spend 2h per day coding, deliver a software in 1 month, later, you spend the same 2h per day in intense Claude-herding sessions, deliver a software in 1 week. Ok. Next task.
Fundamentally, there's finite number of desirable resources, and if the models are available to everyone, humanity will just continue about the same, bickering here and there, war here and there, politics, homelessness, poverty, - normal human state.
And if the models are only available to elites, even worse.