In my opinion it isn’t wishful thinking at all. Software is getting more complex each year, yet the time to build complex software decreases due to existence of better libraries/tools/knowledge-base.

So at the end of the day you can build more complex software with lesser amount of developers but there is a catch, and that is developers now need to be much more talented.

Right now a good developer can easily develop what a team of 10 average developers could build 10 years ago. This is especially true in GameDev field. Right now there is a silent revolution going on with procedural art-work so that a good programmer/artist can create huge amount of content in very short-time but procedural art generation is really complicated.

So if you are a talented developer you can compete with mid-sized companies right now!

I believe it will get to a point in future that even a small team of talented developers will be able to out-compete companies with 100s of average developer.

Large companies will have no option but to scale back and change their HR practices but large companies, like large ships, are harder to turn, hence some of them will definitely go bankrupt in near future.