There's just too many people in tech, because tech needs too many people. Once we have better tools to reduce complexity and allow teams to be much much smaller, many of these problems will vanish, because a engineering team will consist of 1-3 wizard engineers who control all aspects of the tech. We simply do not need to have teams as big as they are, for what we're ultimately doing.
Maybe true for pure software projects. There are other things in tech - robots, from drones and cars to rockets, for example. There are complicated systems that will never, even with banger LLMs, be designed and executed by a small team. Some teams are lightweight and agile and manage to work magic. Maybe tools will help a little there… not so sure. Systems of systems has boggled planners since the first Apollo program, at least. It’s roughly the same approach today.
I do not believe that this will come to pass, based on the trajectory of software engineering over the past decades. There just aren't enough wizard engineers to satisfy demand, and I don't see that changing. People have been trying to come up with tools and techniques to be more effective with smaller teams since the dawn of software engineering, and it just isn't happening on a wide scale.
Taking care of complexity via good tooling and pre-packaged abstractions can only go so far, and few operational realities are static and well-oiled enough to avoid regularly running into new problems.