It's not the only reason, technologies do plateau. We're not living in orbiting cities flying fusion powered vehicles around, even though we built rockets and nuclear power more than half a century ago.

Yes, but perhaps technology can't plateau beyond vibe coding but below "the machine does everything", not because technology doesn't plateau but because that point doesn't exist. Technology could plateau before both or after both.

Why is this desirable?

It’s not, it’s horrifying.

But there doesn’t seem to be any off ramp, given the incentives of our current economic system.