Demand for cars is higher than ever, so is the manufacturing of almost all goods, as proven by the supply chain bottleneck in the last 2-3 years. The demand is still there, and is growing thanks to millions of people in places like India, China and Africa getting out of poverty.
What exactly have smartphones been replacing lately? Other than PC computers, which ironically also saw a comeback thanks to WFH?
You're probably seeing things only from your own tiny bubble, not from the global perspective.
We're talking about developed countries here so yeah tons of stuff has been dematerialised, I call my doctor by video instead of driving there, I download movies instead of driving to the cinema, I get deliveries which are batched instead of going to the mall, I no longer need to send letters and buy paper maps, I don't need to drive to the library anymore to get books, the electricity company does not need to drive on the whole city just to read the electric meters... The list is endless, and this is just individual stuff, whenever you get to the whole supply chain, that gets compounded at every level.
Let me guess, you live in the US/North America? I also live in a developed country in Europe and here you have to go to the doctor in person for almost everything except COVID, people still go to the cinema (at every new blockbuster the cinema is almost full), people still go shopping for groceries as grocery deliveries aren't a thing here or most people can't afford the extra costs, WFH is very rare so everyone still goes to work in person, car sales are up, etc.
Your bubble does not reflect the worldwide situation.
What exactly have smartphones been replacing lately? Other than PC computers, which ironically also saw a comeback thanks to WFH?
You're probably seeing things only from your own tiny bubble, not from the global perspective.