Software is already fantastically profitable. Productive SaaS companies right now collect ~500k in revenue per employee.
If what you describe happens (33% cut to salaries) then the bar for your own startup to be worth it is suddenly lower.
If large companies don’t pay us good salaries then why would we not go and build better competitors without the legacy and dead weight?
Newer process nodes are not the main avenue of improvement. What those transistors are used for is more important and it’s plausible that improvements between generations can increase performance by multiples on a specific task. All of the improvements aren’t necessarily in the chip itself either.
E.g. the next gen might have hardware inference for lower bits, more memory bandwidth, etc.