Humans don't need to compete with machines in the economic system. Machines aren't out to make a profit. Only humans are. The truth is if this technology really advances to the point we are talking about money won't really be a relevant concept. Money at it's essence imho is a claim on future labor. If that labor is extremely cheap, then all money is nearly worthless.
But LLMs/transformers are not this technology. We need some significant advancements before we start seeing things like this.
Machines aren't out by themselves for anything. The machine owners on the other hand, they are out to make a profit. So human workers compete with machine workers for the profit f the owners, and at least here I'm sure we can agree who wins in the end. Because as popular the comparison with the horses vs cars might be, at some point the machines will be smarter than humans with or without AGI. From that point on, any job a human would be able to do, and I mean any job invented or not, a machine would do cheaper and probably better. Zero options for the jobless humans from that point on, zero money to spend except welfare/UBI. And even that doesn't sound very appealing, because humans will look at the machine owners with jealousy and yeah I expect quite some fuss with many only unpleasant outcomes.
But LLMs/transformers are not this technology. We need some significant advancements before we start seeing things like this.