Of course it continues. Look at the investment in hardware going on. Even with no algorithmic efficiency improvement that is just going to force power out of the equation just like a massive inefficient V8 engine with paltry horsepower per liter figures.
I believe it continues, but I don't know if the rate is that favorable. Today's gigawatt-hungry models that can cost $10-100 per task or more to run... still can't beat Pokémon without a harness. And Pokémon is far from one task.
I believe AGI is probably coming, but not on a predictable timeline or via blind scaling.