On the other hand there is always the possibility that we regress to a sort of feudal age, and the lords of the land require that all inhabitants produce children while surviving off of the allotted amount of rations, otherwise they face consequences.

Edit: Not only are there natural corrections that occur, there is also a lot of room for human-made "corrections". Is it ugly? Yes. Is it unfair? Yes. Will it ensure that the local economy continues to function? Yes. The vast majority of us in such a scenario would live in poverty.

(This is where I go off the deep end) Imo, the proliferation of LLM's will truly lead to massive amounts of people being displaced from meaningful work. I foresee that in the not-so-distant future "normal people" who didn't attend elite institutions (or who are otherwise not extraordinary in some sense) will only find "flesh work" available to them - i.e. prostitutes. As long as human flesh exists there will always be work for humans. It's dark, I know, but ask yourself if it's true.

Disclaimer: I find prostitution appalling and sad, but its existence is no secret. In my experience the people who are okay with it are either socially inept people who can't manage to hold down a partner, or socially competent people who are bored with their partner(s). In the latter case I wonder, why not just get a new partner? I didn't ask them about it because the answer doesn't actually matter to me. To them I say, "Do you", just as I would say to the poor souls who know no other way. Who am I to question how someone feeds their kids? I don't even have kids.