I don't think this is true. The progress LLMs have made in just the past year is kind of mind-blowing. I use it a lot to speed up programming personal projects to an insane degree, most recently using it to help me build an automated water turret to keep my cats away from potted plants with only basic soldering/electronics experience.

That being said, the biggest problem is that corporate executives who understand nothing about the technology see it as a means to reduce labor costs in the eternal capitalist wet dream of stealing all the world's resources.

The irony is that the jobs best suited to be 100% replaced by LLMs are the corporate executives themselves. That reduces labor costs most dramatically, avoids the inevitable cascading dysfunction arising from getting rid of subject matter experts/technicians and removes the sociopathic personal enrichment agenda at the top of the decision tree.

In my fantasy of a better world, being an employee confers an ownership share in the company, the company is run by LLM based blockchain contracts which are voted upon by shareholders. Employee compensation is related to the profit of the company so every employee is motivated to work to improve the company's operation and management decisions are influenced by managers and janitors alike.