Yes, the question about AI agents is whether they are actually increasing productivity, or just allowing individuals with more compute to outcompete for a larger share of a finite resource.

If AI agents were more effectively managing flight paths, determining pricing, managing communication channels on the supply side, it would technically decrease cost per flight, but on the demand side, if AI agents just find the cheapest flight and book it, all it does is beat someone else who likely would have gotten to that flight a bit later.

I do think eventually it's going to be supply agents communicating with demand agents that lead to a coordination equilibrium. But until then it's just a race to who has the faster, more integrated models, and now, who has models which can bypass the restrictions providers place on their use.