> Where's the trillions, or hundreds of billions worth in improved quality of life?

I think these IPOs are going to mint tens of thousands of new millionaires or something. That, in turn, will generate massive tax windfalls for all levels of government.

> other than the ability to produce more crap?

This is a big "other than." (And to be clear, the jury is still out on whether AI will let us produce more in the long run.)