I think the question of whether (1) implies (2) is the core of AI economic concerns. Will this be another 'normal' technological revolution where the jobs and workers adapt to provide value on top of the models that are able to automate their current work, or will there simply not be room in many areas to provide additional value on top of the automated work?

I think the latter would not occur under the current state of AI/LLMs, but the rapid pace of growth gives me pause.