Jevons Paradox
It's odd (paradoxical, even?) to call it a paradox when that's what has happened in the medium to long term with nearly every previous period of major technology change.
I think the problem is that technology isn't the main driver of how society's wealth is distributed in a population: that's a political choice. If technology creates more wealth in an unequal society, those at the top will be the beneficiaries. If it creates a wider awareness of the need for redistribution, then it'll become a tide that raises all boats.
The bigger question is whether the LLM bubble is going to have any lasting impact.