The problem is it will take years for the jobs to come back and a lot of people don't have years of liquidity.
If every developer is now 10x more productive, most businesses will be able to downsize until they start to be outcompeted by competitors who decided to build 10x better products rather than downsizing. The current norm is to keep the same productivity and shrink the workforce outside of small startups.
Well some companies decide to produce more as well, this happens in every industry, once they can get more efficient for the same price, they see it as an opportunity to produce more.
If every developer is now 10x more productive, most businesses will be able to downsize until they start to be outcompeted by competitors who decided to build 10x better products rather than downsizing. The current norm is to keep the same productivity and shrink the workforce outside of small startups.