There's two lines of thought.
1. More efficiencies makes for more quality products, and opens up opportunities for more initiatives which will also be higher quality than usual.
2. More efficiencies means companies become super leannin order to minimize labor and maximize costs, focusing on a few select profit centers.
I guess you fall under #2. Both are correct, depending on the economy. So you're rightm for now. #1 was the trend last decade despite horrible inefficiencies.