I agree with everything you've said, but don't you think quite a lot of things have also been like this before, just to a lesser degree?

I've often had the sense that most of what is done inside companies is a kind of performance of work rather than work itself. Mostly all a big status game between various different factions. All actual value provided by just a few engineers here and there who are able to shut out the noise and build things.

Things have probably always been like that, agree. I often try to see AI as a catalyst, that accelerates what already is.

In a good culture, with high competence and trust this can yield increased output (to some degree at least) and in a bad culture it will accelerate and expedite the dominating traits instead.