On the flipside, it might create more demand for some engineers (or skills in general) as the bottlenecks move "upward" on the skills ladder (if we define that ladder as "how hard is it for AI").

E.g., faster and cheaper compute created more demand for software developers as that demand was no longer capped by the compute bottlenecks. Similarly, faster and cheaper "basic" software development might create more demand for software architects, and so on.