I think people used to say this about Starbucks, where you might pay close to $8 for just the drink.
Fast food can probably save itself by going premium (as Starbucks did, although I don’t know if they are still considered premium) and raising prices and quality. McDonald’s has made that play in the past with the pivot to McCafé and the nicer restaurant design that is now predominant.
What may have to go away is the idea of fast food as something that is attainable for just about everyone. I remember when I was much younger and McDonald’s was a treat - we didn’t have much spare money but my parents could make McDonald’s happen occasionally.
Nowadays I’m totally price insensitive and happy to pay for DoorDash to deliver McDonald’s and tip handsomely. The people who don’t have software jobs or a similar tier probably can’t. Big business will be fine regardless, and if they can’t make it work, the leadership is not worthy of their overpriced MBAs.
I worry about the lower classes though. An under appreciated (for the wealthy HN reader) aspect of the relative success of American development is the broad accessibility of luxuries to the masses. Even the poor masses. If you (dear reader) don’t recognize a fast food meal as a luxury, you are blind to the real consequences of what is unfolding. I understand the desire to cater to labor, but ultimately there are far more consumers than laborers (by definition - all human laborers are also consumers). The grand economic experiment of yanking away the _one_ aspect of the American project (abundance) that has until now been continuing to succeed will have consequences. Not for me, but for the people you think of when you think of labor.