I think there is still a lot we can do within the current paradigm - most software, especially for enterprise, is still quite bad. And that will continue to drive employment and growth.
But w may one day have to contend with expecting fewer "new" paradigms and the ultra rapid industry growth that accompanies them (dotcom, SaaS, ML, etc). Will "software eating the world" be enough to counteract this long term? Hard to say
If the clock speed improvements had happened over a much longer stretch of time then we probably would have seen much earlier multi-core capable tooling. We are still mostly optimized for single threaded applications, extracting the maximum from a CPU is really hard work. So also consider the backlog in tooling, there is so much work that still needs to be done there.
